Everyday online dating app Down acquired by Paktor
Remember “Bang With Buddies?” The debatable app, which later rebranded as Down, was actually acquired by Singapore-based internet dating startup Paktor (they’re, um… hooking up).
The regards to the offer weren’t revealed, but we’re advised it absolutely was a number of million. After raising merely $one million , it actually was a “positive end result” for investors like Tim Draper. Paktor has taken in significantly more than $50 million from investors, such as a recent $32.5 million rounded in Oct — it’s dedicated to Asia and possess service in Latin The united states, the U.S. and European countries.
Colin Hodge, creator and CEO of Down, is actually joining the Paktor personnel and will keep the Down and Sweet applications operating. Hodge will in addition be supervising Paktor Labs, where he’ll getting screening new strategies and obtaining some other applications.
“ Bang With family going as a late-night area venture and shot to popularity like a rocket — we hit 1 million signups in under 3 months,” Hodge says of these 2013 introduction. To date, they’ve got 5 million packages and have about 200,000 month-to-month productive people.
Down normally lucrative. Hodge says they have a $one million annual revenue operate rate stemming from in-app acquisitions. They also got very little costs because he’d already been the actual only real full time staff of late, all the way down from six staffers with its earlier period.
The first Bang With buddies gathered most early focus for the questionable concept. The business permit users pick which myspace friends these were drawn to and would only disclose they for them if there seemed to be mutual interest. (mais…)