Hyperconnect Acquisition, Valuation, Funding & Investors

Hyperconnect was acquired by Match Group for $1.8B in February 2021, a 8.7x multiple on $202M of revenue.

Hyperconnect acquisition price

$1.8B

Acquired by Match Group · Feb 2021

Hyperconnect revenue at acquisition

$202M

Last twelve months · Feb 2021

Hyperconnect revenue multiple at acquisition

8.7x

EV/Revenue · Feb 2021

Cumulative funding Hyperconnect raised

$11M

across 2 funding rounds

Hyperconnect Overview

About Hyperconnect

Hyperconnect is a Seoul-headquartered technology company developing AI-powered social discovery apps with 350 employees across seven global offices. Its flagship Azar app, launched in 2014, has amassed 500 million downloads and 90 billion connections via WebRTC video chat, generating $137 million in 2019 revenue primarily from Europe and North America. Hakuna Live, another product with 15 million downloads, offers social live streaming. Recognized at INTERSPEECH 2020 and ICCV 2019 for speech and facial tech advancements.


Founded

2014

HQ

South KoreaSeoul

Status

Acquired

Customer focus

B2C

Revenue model

Advertising

Revenue

$202M (Feb 2021)

Valuation

$1.8B (acquired Feb 2021)

Hyperconnect Acquisition

Hyperconnect was acquired by Match Group for $1.8B on 9 February 2021.

The acquisition price implies a 8.7x revenue multiple on $202M of revenue.

Before the acquisition Hyperconnect had raised $11M across 2 funding rounds.

Hyperconnect acquisition details
AcquirerDateTypePriceEV/Revenue
9 Feb 2021Strategic M&A$1.8B8.7x

Hyperconnect Funding History

Hyperconnect has raised a total of $11M across 2 funding rounds.

Hyperconnect's first fundraising round was a $2M seed round in December 2014. The most recent completed round was a $9M Series B in November 2015.

Hyperconnect funding rounds

Hyperconnect funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2015Series BAltos Ventures (lead); SoftBank Group (lead)$9MHyperconnect raised $8.6 million from Altos Ventures and SoftBank Ventures around November 2015, following a $2 million seed round from Altos Ventures in 2014. Financial investors including these firms and Korea Investment Partners held around a 30% stake in the company at the time of its later acquisition. The company, founded by engineers from Seoul National University and Pohang University of Science and Technology including CEO Sam Ahn, developed video chat apps Azar and Hakuna Live. SoftBank Ventures invested about $10 million alongside Altos Ventures in this November 2015 round, acquiring 2,102,740 preferred shares. Altos Ventures had previously invested $2 million in the 2014 seed round by purchasing 833,330 shares.
Dec 2014SeedAltos Ventures$2M-

Who has invested in Hyperconnect?

2 investors have backed Hyperconnect across its funding rounds, including Altos Ventures and SoftBank Group.

Lead investors include Altos Ventures and SoftBank Group.


Hyperconnect Investors

Investors in Hyperconnect by funding rounds participated
InvestorHQRoundsRoleFirst check

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Hyperconnect Competitors

Hyperconnect competitors include listed companies like RUM Group and Saregama India, and private ones like Quibi, Glance, Spotter and Verbit.

Public and private companies comparable to Hyperconnect
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RUM GroupUnited StatesUnited StatesPublicly listed$101M($78M)$3.6B19.4x
QuibiUnited StatesUnited StatesPrivate--$1.8B-
GlanceIndiaBangalorePrivate$34M-$1.7B50.0x
SpotterUnited StatesLos Angeles, CAPrivate--$2B-
VerbitUnited StatesNew York City, NYPrivate$100M-$2B20.0x
Saregama IndiaIndiaIndiaPublicly listed$100M$36M$979M8.6x

Hyperconnect Public Comps

Hyperconnect is no longer listed, but its public comps include C3.ai, Wenge AI, Newborn Town, TRS Information Technology, MBC Group, Skyworth Digital, mixi, Weibo, Haizhi and NetEase Cloud Music.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Wenge AI$60M($20M)27.6x-(82.7x)-
Newborn Town$1B$154M1.3x1.1x8.6x6.0x
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
MBC Group$1.4B$136M1.0x1.0x10.3x17.4x
Skyworth Digital$1.3B$37M1.4x-47.5x-
mixi$1.1B$218M0.9x0.8x4.5x4.7x
Weibo$1.8B$644M0.5x0.5x1.4x1.9x

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Common questions about Hyperconnect

When was Hyperconnect founded?Hyperconnect was founded in 2014.
Where is Hyperconnect headquartered?Hyperconnect is headquartered in Seoul, South Korea.
Is Hyperconnect publicly listed?No, Hyperconnect was acquired by Match Group in February 2021.
Who acquired Hyperconnect?Hyperconnect was acquired by Match Group in February 2021.
How much was Hyperconnect acquired for?Hyperconnect was acquired for $1.8B in February 2021, a 8.7x revenue multiple.
How much funding has Hyperconnect raised?Hyperconnect has raised $11M across 2 funding rounds.
What was Hyperconnect's last funding round?Hyperconnect's last funding round was a $9M Series B in November 2015, led by Altos Ventures and SoftBank Group.
Who are Hyperconnect's investors?Hyperconnect's investors include Altos Ventures and SoftBank Group.
Which companies are comparable to Hyperconnect?Companies comparable to Hyperconnect include RUM Group, Quibi, Glance, Spotter, Verbit and Saregama India.

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