by Ingrid Lunden
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Category: All Acquisitions
M17 Acquires Livestreaming Platform MeMe Live
TECH IN ASIA – Nov 4 – Taiwanese social media startup M17 Group has acquired MeMe Live, a livestreaming platform focused on markets in Asia Pacific. The company claims that the deal would bring its total market share of the livestreaming industry in developed Asia to 60%. The company also expects the acquisition to help it reach annual group revenues of $1B. Established in April 2017, M17 is the holding firm for Taiwanese livestreaming portal 17 Media, Singapore-based dating app Paktor Group, business-to-business live commerce service HandsUP, and artist agency Unicorn Entertainment. The financial details of the deal were not disclosed.
by Miguel Cordon
See full article at Tech In Asia
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SC Holdings Negotiates a Bigger Stake in Now Dating App
PRESS RELEASE – Aug 19 – SC Holdings is in active negotiations to increase its shareholding to a controlling stake in Now Dating, a dating app pushing toward integration of AI and voice recognition powered by Alexa, Siri, or Google assist. Now Dating encourages people to move into offline dating as soon as possible.
See full article at Globe Newswire
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Match Group & Harmonica: More Details on the Acquisition
MENABYTES – Aug 7 – Match Group has acquired Egyptian online dating startup Harmonica. The financial details of the transaction have not been disclosed yet. Founded in early 2017 by Sameh Saleh, Tamer Saleh, Shaymaa Aly & Aly Khaled, Harmonica is designed to help Muslims find a life partner. Harmonica's small team of 12 full-time employees (including the founders) is joining Match Group and will work on an English app as well. Harmonica currently has an Arabic-only app. Harmonica will remain headquartered in Cairo, with Sameh Saleh continuing as CEO. It will be Match Group's first office in the Middle East.
by Mohammed Salah
See full article at MenaBytes
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Match Group Reports Q2 2019 Results, Invests in Egyptian Dating App Harmonica
MATCH GROUP – Aug 6 – Match Group Q2 total Revenue grew 18% YOY to $498M. Average subscribers increased 18% to 9.1M, up from 7.7M from Q2 2018. Tinder average subscribers were 5.2M in Q2 2019, increasing 503K sequentially and 1.5M YOY. Operating income was $173M, up 15% YOY. Match Group has also invested in and brought on the team behind Harmonica, a dating app based in Egypt. Match Group will further develop this app and invest in product and marketing to expand into Asia and MENA (Middle East and North Africa) that are predominantly Muslim.
See full article at Match Group website
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Scruff Acquires Jack’d for an Undisclosed Sum
SYS-CON – July 10 – Perry Street Software, a New York-based gay mobile software developer and the parent company of Scruff, has acquired gay dating app Jack'd. Jack'd will continue to operate as a stand-alone app. Since its launch in 2010, Jack'd has grown to ~5M members worldwide. Perry Street will invest significant resources to upgrade the technology and reliability of the Jack'd app. In the coming months, Jack'd members can expect to see the removal of all programmatic advertising, enhanced controls over privacy and security, and new features such as improved messaging, redesigned Match, richer search, and the ability to include video as part of member private albums or in chat.
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Spark Nearing Zoosk Close, Sets EBITDA Target
SEEKING ALPHA – June 19 – Spark Networks targets adjusted EBITDA of $50M in 2020. The company says the California Department of Business Oversight granted a permit allowing Spark to issue securities in exchange for the outstanding Zoosk securities. The permit followed a hearing that was the last major milestone in the Zoosk purchase. The acquisition is expected to close on July 1. Spark shares are up 2% to $10.80.
Peruvian Dating App Mi Media Manzana Ceases Operations
CONTXTO.COM – June 19 – Mi Media Manzana, the Peruvian online dating startup turned the lights off and exited countries where it was operating including Mexico, Colombia, Chile, and Peru. After six years of operations, the company will be formally over on June 20. Although Mi Media Manzana was the first Peruvian startup to raise venture capital funds ($2M in four different funding rounds), money still ran out. Liquidity issues, in addition to very low user-retention rates, were the main causes for the demise. "We ran out of cash before reaching our break-even point," said CEO Pedro Neira. In total, Mi Media Manzana managed to acquire 2.5M users during its six years of operation. At one point it was also Latin America's most downloaded Google Play dating app. The startup's main mission was to help singles find a true, meaningful relationship.
by Victor Cortés
See full article at Contxto
Mark Brooks: You can contact the CEO at pedroneiraf@datinglatam.com to discuss buying this company.
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Russmedia Acquires Majority Stake in Hungarian Dating Site Randivonal
DER BRUTKASTEN – June 6 – The Austrian company Russmedia International acquires the majority stake in Randivonal, a Hungarian online dating site. Founded in 1999, Randivonal is Hungary's leading online dating site today. The company is headquartered in Budapest and employs 25 people.
See full article at Der Brutkasten
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Slow Dating App Once Acquires Pickable
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