TAIPEI (The China Post) — Kollective Ventures (KV), a capital advisory and investment firm based in Singapore, announced on Friday that it has completed the acquisition of Paktor Group from Taiwan-based M17 Entertainment.
Paktor owns a few dating assets, including its namesake app available in Taiwan, South Korea and Southeast Asia; and Goodnight, a voice-dating app.
The deal, the details of which were not disclosed, shows how the dating industry in Asia has been growing rapidly in recent years.
“We are also confident that we can leverage on each other’s strengths to gain a stronger foothold in the voice and video dating landscape,” a Paktor spokesperson told e27 Website.
“With KV, Paktor will be well-positioned to strengthen our business focus on dating innovations in Asia and to gain more autonomy on resource utilization.”
In the coming quarters, Paktor Group aims to continue to drive profitability and use its resources efficiently to support growth across all business units, the spokesperson said, adding that the launch of video dating on the Paktor app has seen promising results and the group will continue to refine its product and app experience.
Founded in July 2013, Paktor Group’s other products include Down, Sweet, and Kickoff, In addition, it also runs offline matchmaking agency GaiGai and image and date coaching agency Fleek.
In 2016, Paktor raised US$32.5 million in a funding round, led by K2Global, with participation from existing investor, Indonesian conglomerate PT Media Nusantara Citra Tbk. This was preceded by a US$10 million from investors, including YJ Capital, Global Grand Leisure, Golden Equator Capital and Sebrina Holdings Venture Capital.
In April 2017, the group announced a merger with the Taiwanese startup to form a social entertainment company, called M17 Entertainment. This deal came almost four months after it acquired a big stake in live-streaming company 17 Media.