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Post-12 months, the next step would be clearer: [a potential] merger [acquisition target] or further consolidation — right now it is anyone’s guess,” he added.
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Phua did say, however, that Paktor has instituted a range of new engagement features that — he claimed — have boosted average daily user activity from 160 swipes per day to 200, from 30 minutes of activity per day to 40 minutes and a 200 percent boost in active chats, that is, conversations of three or more exchanges between users who have matched on the service.
Paktor is also targeting at least million in revenue for this year after it decided to offer a new model for emerging markets, like Indonesia, Vietnam and Thailand.
This raised total funding to more than US million and Paktor said its network had five million registered users and 12 million matches a month.
The move into South Korea and Japan will be aided by YJ Capital, which maintains strong links with Yahoo Japan — the joint entity from Soft Bank and Yahoo which is the country’s largest web portal and media company and worth upwards of .5 billion. It hired two former executives at IAC, the firm that owns Match.com, Tinder and others, to oversee its international expansion outside of Asia.
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Paktor is a location-based dating and networking mobile application that connects mutually interested users and allows them to chat individually or as a group.
Phua will remain the group CEO of M17 Entertainment which was formed after the merger of Paktor and 17 Media.
The company also promoted current head of operations Shn Juay to Chief Operating Officer at Paktor Group.