Momo purchases Tantan, China’s Tinder, for more than $600M since Chinese internet sites consolidate
Because of its part, Momo ended up being moving into online streaming functions however with regulators stress along the content of those attributes, browsing its dating roots have decided a safer bet for the moment
WeChat was far and away the biggest chatting system inside Asia today, which can be helping push a hit one of many quicker professionals discover together with her getting finest measure. Now, Momo, the latest Chinese area-based social network software that now generated a large push for the dating services that is traded towards the Nasdaq that have a beneficial business limit of approximately $six mil, established this has obtained Tantan, China’s finest matchmaking software, for “approximately 5.3 mil freshly awarded Classification A beneficial typical shares of the Providers and you can Us$600.nine mil during the bucks”.
It is far from clear just how one to price comes even close to Tantan’s pre-leave valuation: they got never ever disclosed the quantity. Full, Tantan had elevated $120 million, also a good $70 million bullet last year from a mix of strategic and you can financial investors. Their backers provided Kleiner Perkins, films social networking YY, Genesis Financial support, SAIF Asia, Zhongwei, DCM and Bertelsmann.
WeChat have you might say created new playbook in the Asia getting ideas on how to control a popular personal system to go towards the almost every other relevant features (business getting among the biggies), and it appears that would-end up being competition try adopting the suit. Most other popular moves and you will exits recently possess included Alibaba to get Youku Tudou and then have investing heavily during the WeChat rival Weibo; selfie-and also make application Meitu supposed societal and you will Meituan Dianping and then make a shift with the transport. Read more