Momo buys Tantan, Asia’s Tinder, for more than $600M as Chinese networks that are social

Momo buys Tantan, Asia’s Tinder, for more than $600M as Chinese networks that are social

WeChat is far and away the messaging platform that is biggest in Asia right now, which is assisting to drive a push among the list of smaller players to obtain together for better scale. Today, Momo, the Chinese location-based social network software which includes recently made a huge push into online dating services and it is traded on Nasdaq with an industry limit of around $6 billion, announced it has obtained Tantan, China’s top dating application, for “approximately 5.3 million newly given Class the ordinary shares for the business and US$600.9 million in cash”.

It is not yet determined exactly exactly how that price even compares to Tantan’s pre-exit valuation: it had never disclosed the amount. Overall, Tantan had raised $120 million, including a $70 million round last 12 months from a mix of strategic and monetary investors. Its backers included DST worldwide, Kleiner Perkins, video network that is social, Genesis Capital, SAIF China, Zhongwei, DCM and Bertelsmann.

We’d really heard rumors with this purchase recently, therefore it’s perhaps perhaps not coming being a surprise that is complete. (mais…)

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