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adijas Member Level  Wednesday, 01/23/19 09:04:38 AM
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SC Holdings Corp. Acquires 5% of NowDating Ltd.

Hong Kong, Jan. 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SC Holdings Corp. has acquired 5% of NowDating Ltd., a UK company which developed award-winning dating app “Now” Dating.

The online dating industry revenue for 2017 was $3 Billion and is expected to double by 2021, with 60% of singles currently using online dating to date. The user to purchase conversion rate at the launch of Now Dating in April 2018 was 0.33%, one of the lowest among competitors, with weekly user growth of 270%.

Tan Yuen, SC Holding’s CEO, received confidence votes internally to make acquisitions of companies with high growth potential irrespective of industry.

About NowDating Ltd.

The Now dating app was the winner of the UK Dating Awards 2017 and received media coverage due to the uniqueness of its dating app. As the word implies it is all about “Now”.

About SC Holdings

SC Holdings Corp. participates in acquisitions and development of transformational businesses through equity and credit linked instruments. With offices in Hong Kong and Taiwan, we aim to achieve greater market share, increased asset base, access to growth opportunities and new niche offerings. The acquired business will already have their own staff, an established brand name, and other intangible assets.

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