Category: All Acquisitions

Momo Acquires Tantan

Posted on February 23, 2018

Momo tantan logosFINANCIAL TIMES – Feb 23 – Momo paid for the top Chinese dating app $600.9M in cash and 5.3M shares. That brings the total value of the deal to ~$760M. Tantan, dubbed Chinese Tinder, had raised $120M, including a $70m last year. It has enabled 5B matches since its launch. (Tinder claims 8B matches.) Tantan's management will stay and the companies will continue to operate independently.

by Yuan Yang
See full article at Financial Times

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Summarized by the IDEA team

General Atlantic Buys 25% Of ProSieben’s €1.8B Digital Business

Posted on February 23, 2018

Parship elitepartner logosPRIVATE EQUITY NEWS – Feb 22 – U.S. private-equity firm General Atlantic has bought a 25% stake in NuCom Group, the digital business of German media company ProSiebenSat.1 Media SE. The deal valued NuCom at €1.8B, including debt, ProSieben said in a statement. The unit consists of 10 businesses, including online dating site Parship Elite Group and energy price-comparison business Verivox, and generated ~€650M of revenue in 2017. As part of the deal, ProSieben and General Atlantic have bought the minority stakes in Verivox and Parship held by Oakley Capital. The London buyout firm retained minority stakes in both businesses when it sold them to ProSieben in 2015 and 2016 respectively. Parship delivered an nearly five-times return on Oakley's invested capital, while the Verivox investment returned two and a half times its money.

by William Louch
See full article at Private Equity News

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Badoo Is Looking For A Buyer

Posted on January 23, 2018

Badoo logo 2018CNBC – Jan 23 – Badoo is seeking a sale that could value the company at $1.5B and reportedly hired J.P. Morgan Chase to help it find a buyer. Possible buyers include Match Group, non-U.S. based strategic buyers, and private equity buyers. Badoo is now owned by Russian entrepreneur Andrey Andreev and is also a majority owner of dating app Bumble (Badoo owned 79 percent of Bumble as of March 2016, according to TechCrunch).

by Alex Sherman & Leslie Picker
See full article at CNBC

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Northsight Capital Closes Acquisition Of Crush Mobile App

Posted on January 11, 2018

Crushmobileapps logoGLOBE NEWSWIRE – Jan 11 – Northsight Capital has completed its acquisition of Crush Mobile. Crush Mobile, which claims ~900K users, has developed a group of dating sites with a presence in the Latino, Israeli and African American communities. Northsight Capital has a portfolio of online marijuana-related sites. Northsight is currently seeking additional acquisitions in the Cannabis Media space.

See full article at Business Insider

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Summarized by the Courtland Brooks team

PAG Buys Controlling Stake In Zhenai.com

Posted on November 21, 2017

Zhenai logo aug 16SCMP – Nov 21 – PAG Asia Capital, one of Asia's largest investment firms, has closed a deal to acquire a controlling stake in Zhenai.com, China's largest online matchmaking and dating service provider. The transaction size was not disclosed. Founded in 2005 by Li Song, a former Morgan Stanley executive director, Zhenai.com now boasts ~140M registered users. It is expected to generate revenues of ~1.6B yuan and a net profit of ~200M yuan ($30M) in 2017, according to the company. This compared to the 51.4M yuan ($7.7M) in 2015 net profit of Jiayuan.com, a major rival of Zhenai. Jiayuan was bought by Baihe.com, another matchmaking website last year, resulting in the country's matchmaking business being mainly split among the three companies.

by Jane Li
See full article at SCMP

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Spark Networks And EliteSingles Complete Merger

Posted on November 6, 2017

Sparknetworks affinitas logosACCESSWIRE – Nov 2 – Spark Networks announced the successful completion of the previously announced merger of Spark Networks and Affinitas GmbH ("EliteSingles") in a stock-for-stock transaction. Former EliteSingles stockholders now own ~75% of the combined company and former Spark Networks stockholders own ~25%.

See full article at Spark Networks website

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Summarized by the Courtland Brooks team

SNAP Terminates Merger Agreement With LiveXLive Media

Posted on November 2, 2017

Snapinteractive logoACCESSWIRE – Nov 1 – The merger agreement was terminated by SNAP due to certain conditions of the agreement that were not fulfilled as of October 27, 2017, which relieved SNAP of its obligations under the agreement. SNAP entered into the agreement in September. The purchase price was ~$34M consisting of ~$20.4M in cash and ~$13.6M in shares of LiveXLive common stock. Snap Interactive will move forward as a stand-alone entity.

See full article at Accesswire

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Summarized by the Courtland Brooks team

PositiveSingles.com Acquired The HIV Dating Site PozMatch.com

Posted on October 31, 2017

Positivesingles pozmatch logosRELEASEWIRE – Oct 30 – "Founded in 1998, PozMatch.com is one of the oldest online HIV dating sites," explained Suny Smith, PositiveSingles.com spokesperson. PositiveSingles.com has acquired the PozMatch.com domain and trademarks. PositiveSingles.com claims 200k HIV positive members from around the globe.

See full article at Releasewire

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The Meet Group Has Completed Lovoo Acquisition

Posted on October 20, 2017

Themeetgroup lovoo logosBUSINESSWIRE – Oct 20 – The Lovoo app is the most downloaded dating app in Germany, Switzerland, and Austria combined. The acquisition is expected to expand The Meet Group's global footprint, increase the company's scale and profitability. The Meet Group's financial results will be out on November 1.

See full article at BusinessWire

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Pia Poppenreiter Buys Her Ohlala App Back

Posted on October 6, 2017

Ohlala logo 2017GRUENDERSZENE – Oct 5 – Pia Poppenreiter has repurchased all shares of her 'escort' dating app Ohlala from all shareholders. Ohlala is a German dating app that allows users being paid (100 – 200Eur) for going on a date. The app was founded by Pia Poppenreiter and Torsten Stüber, and raised 1.7M Eur in 2015 to expand into USA and other cities in Germany. However the app failed to monetize and an argument broke out among Ohlala's angel investors, who paralyzed the startup for almost a year. Pia Poppenreiter says she is currently not focusing on investing new capital from investors. She wants to focus on the future and build a new team for Ohlala.

by Christina Kyriasoglou
See full article at Gruenderszene

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Summarized by the Courtland Brooks team