The Business Times
business-time-50
GARAGE

Investors to cash out as Singapore TikTok-rival Lomotif sold for US$125m

google-preferred-sourceAdd BT as a preferred source
Claudia Chong

Claudia Chong

Published Thu, Mar 18, 2021 · 09:50 PM

    Singapore

    SINGAPOREAN Paul Yang spent three and a half years sleeping on strangers' couches in the US as he scrimped to build his video-sharing app, used today by millions.

    Now, his company Lomotif is getting acquired by a US-based group in a deal that could see significant returns for his handful of early backers. The TikTok-rival's investors include Golden Gate Ventures, Koh Boon Hwee and Kuok family-linked K3 Ventures.

    M&ASocial mediaTikTokVenture capital

    TRENDING NOW

    (From left) Dushan county’s ambitious Shuisi Building project and an unfinished, full-scale replica of the Titanic in Daying county.

    Abandoned ‘Titanic’, failing ‘ancient towns’: Why China’s tourism boom leaves white elephants behind

    David Rubenstein, co-founder and co-chairman of The Carlyle Group, warns against “just trying to do deals for the purpose of doing deals, as opposed to getting high rates of return”.

    Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    Analysts believe the initial oil supply shock has already been discounted by investors, including in the Singapore market.

    US-Iran peace deal: S-Reits, aviation stocks, developers on investors’ radar as potential winners

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More