Deals
China's Momo to Acquire Smaller Tinder-Like Rival Tantan
- Momo to buy Tantan with $601 million in cash and new shares
- Momo is said to value Tantan at $735 million in total
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Momo Inc. agreed to buy Tinder-like competitor Tantan Ltd. to solidify its dominance in China’s online dating and hook-up sphere.
Nasdaq-listed Momo is funding the acquisition with $601 million in cash and 5.3 million newly issued shares, according to a statement from Momo on Friday. Momo was valuing Tantan at $735 million in total, according to people familiar with the matter, asking not to be identified because the matter is private.