WeChat is far and away the biggest messaging platform in China at this time, which is helping drive a push on the list of smaller players to obtain together for better scale. Today, Momo, the Chinese location-based social network application which has more recently made a large push into online dating services and it is exchanged on Nasdaq with an industry cap of around $6 billion, announced so it has obtained Tantan, China’s top dating application, for $600.9 million within an deal that is all-cash.
It’s not yet determined exactly how that price comes even close to Tantan’s pre-exit valuation: it had never disclosed the quantity. Overall, Tantan had raised $120 million, including a $70 million round last 12 months from a mixture of strategic and monetary investors. Its backers included DST worldwide, Kleiner Perkins, video clip social network YY, Genesis Capital, SAIF Asia, Zhongwei, DCM and Bertelsmann.
We’d really heard rumors of the purchase recently, so that it’s perhaps not coming as being a complete shock.
WeChat has you might say written the playbook in Asia for how exactly to leverage a well known social platform to transfer to other relevant solutions (business being among the biggies), and it also appears that would-be rivals are after suit. Читать далее “Momo buys Tantan, Asia’s Tinder, for $600M as Chinese networks that are social”