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Momo Swipes Right on a Rival Dating App for $800 Million

Momo Swipes Right on a Rival Dating App for $800 Million

Momo (NASDAQ: MOMO) recently closed its acquisition of dating application Tantan in a stock and cash deal well worth nearly $800 million, which broke right down to $600.9 million in money while the sleep in newly released shares. The takeover, that has been initially established in February, will expand Momo’s online ecosystem that is dating widen its moat.

Understanding Momo

To comprehend why Momo purchased Tantan, just take a closer glance at Momo’s core business. Momo’s namesake software, which lets users find each via their pages and provided areas, can be called « Asia’s Tinder ».

Image supply: Getty Pictures.

Momo happens to be expanding that platform with brand new chat experiences, a « discovery » page for searching individual pages, and video that is live, that have been launched in very early 2017. The development of live movie channels, that was sustained by adverts and people purchasing digital presents for a common broadcasters, had been a game-changer for Momo and supported a few right quarters of triple-digit product sales development. Continuer la lecture de Momo Swipes Right on a Rival Dating App for $800 Million