E27.CO – May 13 – M17 Entertainment, the company that owns Paktor and live-streaming service 17 Media, is hoping to raise US$115M in IPO. M17 made ~$90M in revenue in 2017, but operated at a loss of US$61.8M. In Q1 2018, the company made $37.9M and is operating at a loss of $26.9M. The strategy for the startup is to expand into Japan, expand content offerings, grow the number of artists on the live-streaming service and achieve profitability. Paktor has 14.6M people using its dating services, but that is split between the brands of Paktor, Goodnight and Kickoff.
by Kevin McSpadden
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