HyperConnect, a domestic startup based in the global market, was sold to Tinder, an American social dating app company, for nearly 2 trillion won.
HyperConnect announced on the 10th that the Match Group, a US NASDAQ-listed company, has agreed to acquire 100% of HyperConnect for $1.75 billion (about KRW 1.93 trillion).
HyperConnect will continue its independent management system after this agreement, and closing (closing the transaction) is expected in the second quarter of this year.
HyperConnect is a global social platform company founded in 2014. He has world-class skills and experience in video communication and AI. The share of overseas users is 99%. In 2019, it achieved sales of close to 170 billion won, and in the first half of 2020, it achieved sales of 131.35 billion. HyperConnect’s flagship service, Hazard, has become a global video messenger with over 540 million downloads in 230 countries.
Match Group, which provides over 40 global social apps, such as the social dating app’Tinder’, is a global company with a market cap of about KRW 47 trillion that occupies an overwhelming market share in the non-game app sector in global big markets such as North America, Europe, and Japan All.
“As people spend more and more time online, people want a richer and more in-depth experience,” said Match Group Representative Shar Dubay. “HyperConnect’s live video and audio technology brings users from all over the world to new people, “It provides a powerful means of connecting with culture.”
In addition, he said, “HyperConnect’s diverse product portfolio and global market presence perfectly complement Match Group’s portfolio. In addition to accelerating it, we will apply HyperConnect’s technology to the services of the Match Group.”
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Ahn Sang-il, CEO of HyperConnect, said, “In an environment where competition in the global social discovery market is intensifying, we have joined hands with global leading companies such as Match Group to target big markets such as North America and Japan, and for greater global growth.” Aims to’connect’ users around the world. This is in line with the philosophy of HyperConnect.”
He added, “I am glad that HyperConnect proves that even a small startup can create business opportunities in the global market with innovative technology, and we welcome the Match Group as a partner.”