DEALSTREET ASIA - May 11 - M17 Entertainment has landed $26.5M in a Series D funding round led by the Temasek-backed Vertex Growth Fund. The company will focus on deepening its presence in Japan and the rest of developed Asia, while planning expansion into the US and new markets such as the Middle East. M17 said it has the largest live streaming platform in developed Asia, with ~60% market share by revenue in Japan and Taiwan. M17’s estimated annual revenue is $180M. In 2018, M17 raised $25M. The company also raised a $40M Series A round in 2017. M17 was formed in April 2017 after the merger of Singapore-based Paktor Group and Taiwan-based 17 Media, a regional live streaming company. The company's main dating apps are Paktor and Goodnight. M17 had planned to list its Paktor dating and networking app on the New York Stock Exchange in a $115M IPO in 2018, but it withdrew the application after the IPO roadshow only raised $60M.
by Leslie Shaffer
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