INAPPROPRIATE CONTENT:The live streaming and photo-sharing app offers its users up to US$100 in company shares if they can meet live audience targets
Date: Dec 09, 2016
By: Lauly Li / Staff reporter
Taiwanese start-up 17 Media (17 直播), a photo-sharing and live streaming app that has more than 15 million users worldwide, yesterday said it had sold an unspecified controlling stake to Singapore-based dating app operator Paktor Group (拍拖) to expand its presence in Asia.
The investment marked the second cash injection into 17 Media this year, after the firm in May received 150 million yuan (US$21.8 million) from China’s LeTV Sports Culture Develop Venture Capital (樂視體育創投).
“The agreement with Paktor enables 17 Media to gain access to a platform with a large and growing consumer base within the Singapore-based company,” 17 Media founder Jeff Huang (黃立成) said in a joint news statement. [FULL STORY]