DEAL STREET ASIA – July 1 – Taiwan-based M17 Entertainment, the parent company of Singapore-based dating and networking app Paktor, has officially withdrawn its IPO in the US, a month after suspending its debut on the New York Stock Exchange. The press statement did not mention the reasons for M17's decision to cancel its IPO, which had initially aimed to raise a total of $115M.
by Mars Woo
See full article at Deal Street Asia
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WIRED – July 10 – Kelly Rakowski started an Instagram account called Personals where people can post their dating ads. She has 35K followers now. She wanted to create a way for people to find each other through their phones without the frustrations of dating apps. "You have to be present to write these ads," she says. "You're not just throwing up your selfie. It's a friendly environment; it feels healthier than Tinder." And now, she wants to an app. The Personals app will focus on the things people say and the ways others connect to them. The Personals' Kickstarter is about to reach its $40k goal so Rakowski will be able to turn the ads into a fully-functioning platform.
BUSINESDEN – June 27 – MeetMindful, an app that pairs people who share interests in yoga, meditation, green living and other "mindful" hobbies, has raised $5.5M. Founder Amy Baglan, who launched the startup in 2015 and went through the Techstars incubator in Boulder, said the new capital will go toward MeetMindful's new app, hiring and future products. The startup has raised $8M since 2015.
by Kate Tracy
See full article at BusinessDen
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by Thomas Ohr
See full article at EU Startups
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TAIWAN NEWS – June 13 – Live streaming and dating app group M17 Entertainment is postponing its IPO on the New York Stock Exchange (NYSE) as it had obtained $35M in private capital. M17 said the new round of funding would allow the company to remain private as well as "lively" and flexible, while continue to expand its business in Asia. The new funds came from Infinity Venture Partners of Japan, Convergence Ventures of Indonesia, and Majuven Capital and Global Grand Capital of Singapore.
by Matthew Strong
See full article at Taiwan News
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TECH CRUNCH – June 7 – M17 Entertainment, a Taipei-based live streaming and dating app group, priced its IPO this morning on the NYSE and was expected to open trading today. But with just a little more than two hours to go before market closing, it's still not trading, and no one seems to know why. M17 has had a rocky non-debut so far. Originally targeting a fundraise of $115M of American Depository Receipts (shares of foreign companies listed domestically on the NYSE), the company concluded its roadshow raising less than half of its target, for a final investment of $60.1M. The company priced its ADR shares at $8 each. The company's main product is a live-streaming product where creators can build their fan bases and brands. Fans can purchase virtual gifts to send to their favorite artists.
TECH CRUNCH – May 31 – The round, led by U.K. VC firm Atami Capital, brings the app's total up to ~$20M since launching back in 2012. Coffee Meets Bagel limits the number of matches it offers during a 24-hour window. Late last year, it expanded its offering with a video profile feature. This month, it introduced additional CMB Experiences to bring users together in the real world.
by Brian Heater
See full article at Tech Crunch
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SEEKING ALPHA – May 22 – M17 Entertainment intends to raise $115M in a U.S. IPO. The company provides an online live streaming and dating app for the more developed countries in Asia. The firm has developed a live streaming platform known as 17 Media. The platform was launched in Taiwan in July 2015. 17 Media had 33.3M registered users as of March 31, 2018. The company also operates Paktor, launched in Singapore in 2013, and Goodnight, M17 Entertainment's main dating apps. The platform allows artists to stream performances at any time and from anywhere with an internet connection. 2017 revenue was $79.5M with gross profit of $14M. The firm will use the net proceeds from the IPO for expansion into Japan and other new markets; for content development, including PGC and new content formats; and the remainder for strategic merger and acquisition opportunities.
by Donovan Jones
See full article at Seeking Alpha
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YOURSTORY – May 18 – Woo aims to match like-minded people, and also claims to be a platform that puts women first. Released in July 2014, the platform is founded by Sumesh Menon (CEO and Co-founder) and Ankit Nautiyal (CTO and Co-founder). It received its undisclosed Series A funding from Matrix Partners, Omidyar Network and U2opia Mobile. Woo has a user base of ~4.5M users. Woo is similar to Tinder, in the sense that users can only chat with someone if the two have mutually liked each other by swiping right. Users can also send out a 'crush' to a profile without swiping right to let him or her know of their interest. With the feature 'Woo Phone', women can place an Internet call directly from the app while their number remains hidden and private. This specially created feature is available only to women. Woo Plus unlocks a few extra features.
by Sampath Putrevu
See full article at YourStory
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PITCHBOOK – May 4 – Coffee Meets Bagel has raised ~$7 million in Series B funding, per an SEC filing. The funding values the San Francisco-based startup at about $82M. The round comes just as Facebook enters the online dating game. Coffee Meets Bagel, named because matches are referred to as "bagels" in the app, has previously raised ~$10M in equity funding from investors including DCM Ventures, Quest Ventures and Azure Capital. The founding team consists of three sisters, Arum, Dawoon and Soo Kang. The trio famously pitched to Mark Cuban on Shark Tank in an episode that aired in 2015.
by Kate Clark
See full article at Pichtbook
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