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KineMaster investors betting on Hyperconnect deal Posted : 2021-02-15 16:42 By Park Jae-hyuk Expectations of a takeover of KineMaster by a foreign tech giant are growing further, after Hyperconnect, the unlisted Korean startup that operates the Azar video chat app, was sold last week for $1.7 billion to the Nasdaq-listed Match Group, which is well known for its dating-app Tinder. Both KineMaster and Hyperconnect have long been regarded as the next Korean mobile app developers likely to hit the jackpot overseas, as Naver s Japanese subsidiary LINE did in the Asian market with its mobile messenger app. The successful Hyperconnect deal has therefore led more domestic investors to expect one of the providers of global social media platforms, such as TikTok, Facebook and YouTube, to buy the Kosdaq-listed mobile video editor app operator, whose major shareholders have sought to sell their controlling stakes since late last year. ....
In a large win for the Korean startup ecosystem, dating powerhouse Match Group announced this afternoon that it would buy social networking company Hyperconnect for a combined cash and stock deal valued at $1.73 billion. Hyperconnect, which is projected to have $200 million in revenue in 2020 (up 50% from 2019) according to the company, offers two apps — Azar and Hakuna Live — which allow users to connect to each other across language barriers. The two are complementary, with Azar focused on one-to-one video chats and Hakuna Live focused on the online live broadcast market. ....
Match Group Inc has agreed to buy Softbank Group-backed South Korean social media firm Hyperconnect for $1.73 billion, as the owner of Tinder and Hinge looks beyond romantic connections to help users make friends across geographies. ....
Online dating company Match Group announced Tuesday plans to acquire Korean social discovery company Hyperconnect for $1.73 billion.Why it matters: The deal signals Match Group’s ambitions beyond online dating and is its largest acquisition to date, per Wall Street Journal.Support safe, smart, sane journalism. Sign up for Axios Newsletters here.Details: Hyperconnect’s two apps focus on facilitating engagement.Azar is a live video and audio chat platform that translates voice and text in real time for users around the world.Hakuna Live is a live-streaming app for video and audio broadcasts and includes features like augmented-reality powered avatars.The company is based in Seoul, South Korea. The big picture, via Axios’ Sara Fischer: Dating apps have been pushing to introduce new features, including live video chat, to help users connect, especially amid the pandemic where in-person contact is limited. Match Group owns dating apps Tinder, Hinge and OkCupid, among ot ....