Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Friday, May 22 2020 - 20:14
AsiaNet
M17 Announces Sale of Paktor Dating Assets
TAIPEI, May 22,2020/PRNewswire-AsiaNet/--

M17 to focus on live streaming in Japan and new markets while Paktor will 
continue to develop the dating business in SEA 

M17 Entertainment Ltd., the leading live streaming entertainment platform in 
Developed Asia, today announced that it has sold Paktor Pte Ltd. to Kollective 
Ventures (KV). After the sale, M17 will focus on accelerating its core live 
streaming entertainment business in Japan and new markets, also to growing the 
live streaming market in Chinese speaking markets, Taiwan and Hong Kong. The 
sale allows Paktor and its portfolio of online dating and offline matchmaking 
assets in Taiwan and Southeast Asia to operate independently of M17 as part of 
Kollective Ventures. 

"As our Japan live streaming business has skyrocketed, we found that we were 
unable to devote the same level of internal resources to dating business in 
SEA. Becoming independent will allow Paktor to control its own destiny as M17 
focuses heavily on the future of its streaming services in our largest market, 
Japan. Live streaming entertainment market in Japan is expected to reach over 
US$1 billion by 2022. With recent Series D fundraising, we will devote our full 
efforts to building live streaming business in Japan and growing market share. 
We hope to continue working with Paktor on future business cooperation and will 
always value the synergy and teamwork between M17 and Paktor," said Shang Koo, 
CFO of M17.

Shn Juay, CEO of Paktor Group said, "We're excited to join the KV family. 
Paktor has firmly established itself as the leading dating group in the region 
and we believe with the support of KV's Managing Partner, Kheng Lian and her 
team, we will be able to push into high growth areas like video and voice 
dating. Global dating leaders have shown the immense size of these businesses 
but in Asia, the growth is only just starting." 

About M17 Entertainment Limited 

M17 Entertainment Limited operates the largest live streaming platform in 
Developed Asia. Anyone with a talent or a passion to share can be an artist and 
the Company's mission is to empower artists and entertain the world through its 
platforms. The Company's live interactive platforms include its flagship live 
entertainment streaming app 17LIVE (Livit in English markets), Meme Live and 
live streaming shopping platforms HandsUP and FBBuy. For more information about 
M17, please visit http://m17.asia/.

SOURCE M17 Entertainment Limited