Momo expenditures Tantan, China’s Tinder, for over $600M given that Chinese social media sites consolidate
WeChat are far and away the greatest chatting program during the China at the moment, that’s assisting to push a press among the many reduced professionals to locate together to possess most readily useful level. Today, Momo, the newest Chinese location-founded social networking software who has recently generated an enormous push on online dating services that is traded on the Nasdaq which have a great industry cap of around $six billion, announced which has actually gotten Tantan, China’s finest relationships application, getting “as much as 5.3 million recently awarded Group Good ordinary offers of one’s Organization and you can Us$600.9 mil during the dollars”.
It is far from clear exactly how one rates comes even close to Tantan’s pre-get-off valuation: it got never expose the number. Overall, Tantan got increased $120 billion, plus good $70 million bullet a year ago out of a mix of proper and economic dealers. Their backers provided Kleiner Perkins, video clips social media YY, Genesis Funding, SAIF Asia, Zhongwei, DCM and you may Bertelsmann.
This won’t rule a move for Momo into matchmaking entirely (sorry into pun), but so you can twice down on very winning suggests that it’s varied their providers
WeChat has in such a way composed brand new playbook from inside the Asia getting tips control a well-known public program to maneuver toward most other related attributes (business are among the biggies), and it seems that create-getting opposition are after the suit. Other known actions and exits in recent times enjoys provided Alibaba to invest in Youku Tudou and also expenses heavily when you look at the WeChat competitor Weibo; selfie-and come up with application Meitu going social and Meituan Dianping to make a change into transport.