Keep In Mind вЂњBang With Friends?вЂќ The app that is controversial which later rebranded as Down, ended up being obtained by Singapore-based dating startup Paktor (theyвЂ™re, umвЂ¦ setting up).
The regards to the offer are not disclosed, but weвЂ™re told it absolutely was a few million. After increasing simply $1 million , it absolutely was a outcome that isвЂњpositive for investors like Tim Draper. Paktor has taken in significantly more than $50 million from investors, including a current $32.5 million round in October вЂ” it is concentrated on Asia but additionally has solutions in Latin America, the U.S. and European countries.
Colin Hodge, creator and CEO of Down, is joining the Paktor group and certainly will keep both the Down and Sweet apps operating. Hodge may also be Paktor that is overseeing Labs where heвЂ™ll be testing brand new a few ideas and acquiring other apps.
вЂњ Bang With Friends began as a late-night part task and became popular like a rocket вЂ” we hit 1 million signups within just 3 months,вЂќ Hodge claims of these 2013 launch. Up to now, theyвЂ™ve had 5 million packages and actually have about 200,000 month-to-month active users.
Down can be lucrative. Hodge claims they usually have a $1 million revenue that is annual rate stemming from in-app acquisitions. They even had minimal expenses because he previously been the sole full-time employee recently, down from six staffers in its earlier times.
The initial Bang With Friends gained plenty of very early attention because of its controversial concept. (more…)