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

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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

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