group buy korean social-media company
Match Group Buys Korean Social-Media Company for $1.73 Billion
Online-dating company Match Group Inc. has reached an agreement to acquire South Korean social-media company Hyperconnect for $1.73 billion, broadening its services beyond connecting people in their love lives. The cash-and-stock deal, announced Tuesday, marks Match Group's largest acquisition to date. Hyperconnect, based in Seoul, has developed two video apps that focus on helping people interact one-on-one and with new communities. Hyperconnect's first app, Azar, offers live video and audio chat and can instantly translate voice and text for users that speak different languages. Hyperconnect's other app, Hakuna Live, is a social live-streaming app that provides group video and audio broadcasts.