Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Bumble Inc IPO - "You've Got Mail" Fast Forward 23 Years

Bumble (BMBL US) | Swipe Right to Access World's Second-Largest Market

Equity Bottom-Up

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<p>On 9 February, it was announced that <a href="https://www.smartkarma.com/entities/match-group-inc" target="_blank" data-smartkarma-citation="entities:25903:1" rel="noopener">Match Group Inc (MTCH US)</a> has agreed to acquire <a href="https://www.reuters.com/article/hyperconnect-ma-match-grp/update-1-match-group-to-buy-s-korean-social-media-firm-hyperconnect-for-1-73-bln-idUSL4N2KF4T1" target="_blank" rel="noopener">Hyperconnect</a> for $1.7 billion. Match Group is the biggest global player in the online dating industry and the biggest competitor to <a href="https://www.smartkarma.com/entities/bumble-inc" target="_blank" data-smartkarma-citation="entities:31309:1" rel="noopener">Bumble (BMBL US)</a> which is getting ready to complete its IPO this week. <a href="https://www.reuters.com/article/hyperconnect-ma-match-grp/update-1-match-group-to-buy-s-korean-social-media-firm-hyperconnect-for-1-73-bln-idUSL4N2KF4T1" target="_blank" rel="noopener">Reuters</a> has mentioned that Hyperconnect reported revenue of more than $200 million in 2020 and it was profitable last year. With the valuation of $1.7 billion, this would suggest a P/S multiple of 8.6x.</p>
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On 9 February, it was announced that Match Group Inc (MTCH US) has agreed to acquire Hyperconnect for $1.7 billion. Match Group is the biggest global player in the online dating industry and the biggest competitor to Bumble (BMBL US) which is getting ready to complete its IPO this week. Reuters has mentioned that Hyperconnect reported revenue of more than $200 million in 2020 and it was profitable last year. With the valuation of $1.7 billion, this would suggest a P/S multiple of 8.6x.


Match Group Buys Hyperconnect for $1.7 Billion