Match Group has announced its acquisition of Hyperconnect, a South Korean video technology company, for $1.725 billion, aiming to enhance its social discovery offerings.
Target Information
Hyperconnect is a prominent social discovery and video technology company headquartered in Seoul, South Korea. The company operates two flagship applications: Azar and Hakuna Live. Azar, launched in 2014, is recognized as the highest-grossing 1-on-1 live video and audio chat application worldwide, enabling users to connect with others globally while offering real-time voice and text translation. It has achieved over 540 million cumulative downloads since its inception.
Hakuna Live, introduced in 2019, is an interactive social live streaming platform that supports group broadcasts featuring a range of functionalities such as virtual gifting, augmented reality avatars, and community-building around shared interests. With more than 23 million downloads to date, Hakuna Live has seen significant traction, particularly in South Korea and Japan.
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Industry Overview
The social discovery and video technology sector has demonstrated significant growth in South Korea, driven by increasing smartphone penetration and rising demand for dynam
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Match Group
invested in
Hyperconnect
in 2021
in a Buyout deal
Disclosed details
Transaction Size: $1,725M
Revenue: $200M