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MNC Media Group invests in Singapore-based Paktor app

Adrian M. Reodique | March 14, 2016
The proceeds will be used to support Paktor’s growth in Indonesia.

Paktor Pte Ltd, a mobile dating and social networking brand based in Singapore, has received an undisclosed amount of investment from Indonesian media conglomerate MNC Group as part of a larger investment round the company is currently closing.

"We've followed Paktor's progress closely since they launched in Indonesia in 2015. We are impressed by the growth they've experienced in such a short period of time. MNC is keen to support Paktor's growth in the region," said David Fernando Audy, Director of MNC Media Group and CEO of Tencent MNC.

The proceeds will be used to support Paktor's growth in Indonesia. The tie-up will also allow Paktor to tap into the media assets of MNC.

"Paktor's focus on monetisation in 2015 paid off handsomely, with app revenue growing over 100 times in the year, and we expect to achieve group revenue in the 8 figure range (US$) in 2016. Take Taiwan for example: We're just behind Line app as the top grossing app in category, and ahead of all other dating industry players. With MNC's support, I believe we can do the same in Indonesia, and further strengthen our position and leadership in the region," said Joseph Phua, CEO and Co-Founder of Paktor.

 

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