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The deal marks Paktor's first acquisition and comes as the homegrown start-up looks to diversify into the social entertainment space.According to the press release, 17 Media will receive a "substantial cash injection" to accelerate the regional growth of its 17 app by strengthening content production and partnerships, as well as adding further enhancements to the live streaming platform.Author of, "Future Sex." (@embot)Alex Williamson, head of branding and “resident de facto love doctor” at Bumble.
Best known as the founder of hip-hop groups LA Boyz and Machi, Mr Huang ventured into the start-up scene in 2015.
Earlier in June, 17 Media raised US$10 million (about S$14 million) in a Series A funding round led by Infinity Venture Partners and Prometheus Capital.
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SINGAPORE: Singapore-based dating app Paktor announced on Thursday (Dec 8) that it has agreed to acquire a controlling stake in Taiwanese start-up 17 Media, which owns a photo-sharing and live streaming app that has over 15 million users worldwide.
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