Sold to US dating app’Tinder’
Second after Baemin’s 4.7 trillion big deal
I wrote a story about the success of a Korean startup being sold to a global company for 2 trillion won.
Match Group, a NASDAQ-listed company that operates the world’s largest dating app’Tinder’, acquired 100% of HyperConnect, a domestic startup that developed the video messenger app’Azar,’ for a total of $1.73 billion It said on the 10th. In terms of scale, it is the second-largest amount after the’Baedal People’ (elegant brothers)’ was sold to DH in Germany for 475 trillion won.
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HyperConnect is a video and artificial intelligence (AI)-based technology company founded by Seoul National University and POSTECH, including CEO Ahn Sang-il in 2014. It is developing and servicing the video messenger app’Azar’. Currently, Azar is used by more than 100 million people in 230 countries. It is more popular in the Middle East, India, and Europe than in Korea, making up 99% of overseas users. HyperConnect also recorded sales of 168.9 billion won and operating profit of 20.2 billion won in 2019 thanks to the success of Azar.
Match Group, which acquired HyperConnect, is a Nasdaq-listed company with more than 40 social and dating apps, including Tinder, the world’s #1 dating app. The current market capitalization is 47 trillion won. The Match Group is known to have paid attention to Azar’s video and audio technology. “HyperConnect’s video and audio technology is a powerful means for users to connect with new people and culture,” said Char Dubay, the CEO of Match Group, with the announcement of the acquisition. We will create a variety of synergies and actively support investments in HyperConnect’s innovative technology.” .
Match Group plans to secure independent management even after acquiring HyperConnect and further invest in the North American and Japanese markets.
/ Reporter Jung Hye-jin [email protected], Reporter Yoon Min-hyuk [email protected]
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