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    Home»Deals & Transactions»Match Group looks beyond love with $1.73 billion Hyperconnect deal
    Deals & Transactions

    Match Group looks beyond love with $1.73 billion Hyperconnect deal

    February 13, 2021Updated:February 13, 20211 Min Read
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    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.

    Match last week said Japan had become its second-highest grossing market behind the United States, with revenue in the Asian country surging more than 600% in the past five years.

    Hyperconnect is profitable, the companies said, adding that it reported a 50% jump in 2020 revenue to more than $200 million.

    Match’s flagship app Tinder, with 66 million average monthly active users, dominated the dating market worldwide with 53.8% of the market share during the final quarter of 2020, according to analytics firm Apptopia.

    Read more at: Reuters

    By Tiyashi Datta, Noor Zainab Hussain and Ramakrishnan M.

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    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

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