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KineMaster is one of South Korea’s leading applications that is also used around the world. It was reported that investors are eyeing it after Match Group successfully acquired another successful Korean start-up, Hyperconnect.
Investors’ interest in KineMaster
As per The Korea Times, with the takeover, the expectations for KineMaster to be sold to a foreign tech company is also growing. This is because the sale is possible, especially if a big tech firm is interested in buying the video editing application.
KineMaster and Hyperconnect are two of the most hit Korean apps, and they have long been regarded as platforms that will make it big overseas. They are being compared to Naver’s LINE mobile messaging app that made it in the Asian market.
Likewise, the Hyperconnect deal led investors to think that one of the world’s leading tech giants such as Facebook, YouTube, and even TikTok would be interested in buying KineMaster to boost their own companies further. This is not a bad deal at all because the video editor has millions of users around the world.
Hyperconnect was purchased by Match Group for $1.73 billion. The American company also owns Tinder and Hinge, and with the acquisition of the South Korean dating application, Match Group is looking to expand its services and go beyond connecting people and helping them find a partner.
Possible sale of the Korean editing app
The Korea Times reported that at this time, the plans for the sale of KineMaster are being prepared. It was said that the process is going smoothly, and potential buyers are also coming in.
Nomura Financial Investment, the hired underwriter for the deal, already sent out investment teasers to potential buyers. It has distributed the teasers to both local and overseas investors. Moreover, the list of possible buyers will be disclosed during the preliminary bidding that may take place within this month or the next.
"Investment teasers will be sent to global companies that have expressed their interest in the sale and companies that are likely to be interested," the financial investment firm stated in the filing. Meanwhile, KineMaster’s sales for 2020 increase by 53.45% year-on-year to KRW29.8 billion won or $27 million, so it is definitely a good investment.
