TAIPEI (The China Submit/ANN) — Singapore-based funding agency Kollective Ventures (KV) and Flip Capital introduced on Wednesday the acquisition of SoundOn, a Taiwanese startup with 35 million month-to-month podcast downloads.
KV and Flip Capital didn’t disclose the small print of the deal however they stated they purpose to proceed to “speed up” the corporate’s progress sooner or later.
SoundOn, which produces podcasts that includes Taiwan’s high influencers, was based in late 2019 by Likai Gu.
The platform manages its personal podcast participant app and web site, which sees over 35 million month-to-month podcast downloads. This quantity is projected to develop to over 500 million downloads in 2021.
In line with e27.com, the corporate has achieved over 70 p.c market share and appears to drive additional domination in 2021.
Kollective Ventures and Flip Capital see large potential within the podcast and audio house in Taiwan, and this acquisition permits them to take a position additional within the business with the purpose of making a podcast ecosystem.
Final Could, KV had acquired Paktor Group, which was based by Joseph Phua, from M17 Leisure. Paktor is the umbrella that owns a couple of courting belongings, together with its namesake app accessible in Taiwan, South Korea and Southeast Asia, and Goodnight, a voice-dating app.
