13 nov Informal matchmaking app Down acquired by Paktor
Bear In Mind “Bang With Buddies?” The controversial application, which afterwards rebranded as Down, is acquired by Singapore-based internet dating startup Paktor (they’re, um… starting up).
The terms of the offer weren't disclosed, but we’re told it was a number of million. After raising just $1 million , it had been a “positive outcome” for dealers like Tim Draper. Paktor keeps pulled in over $50 million from people, such as a recently available $32.5 million circular in October — it is dedicated to Asia but in addition have providers in Latin America, the U.S. and European countries.
Colin Hodge, president and President of Down, is signing up for the Paktor employees and can keep the Down and nice software functioning. Hodge will also be managing Paktor laboratories, in which he’ll be evaluating newer strategies and acquiring some other applications.
“ Bang With buddies started as a late-night part job and took off like a skyrocket — we hit one million signups within just 3 months,” Hodge claims of these 2013 establish. Currently, they’ve had 5 million packages and currently have about 200,000 month-to-month productive consumers.
Down can also be successful. Hodge states obtained a $one million yearly money operate speed stemming from in-app expenditures. They also had very little prices because he'd been the actual only real full-time employee lately, straight down from six staffers within the earlier time.
The original Bang With company gathered lots of very early attention because of its debatable idea. The startup try to let consumers pick which Twitter company these people were interested in and would just divulge they in their 
mind if there seemed to be mutual interest.