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Paktor

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Paktor
Developer(s)Paktor Pte Ltd
Initial releaseJune 2013 (2013-06)
Operating systemiOS, Android
Websitewww.gopaktor.com

Paktor is a location-based dating and networking mobile application that connects mutually interested users and allows them to chat individually or as a group. Founded in Singapore, the app was launched in June 2013.[1], and has over 5 billion swipes to date (October 2015)[2]. In late 2013, Paktor launched a subsidiary called GaiGai, an offline dating service that focuses on matching-making and dating events. The word 'Paktor' originates from the Chinese Hokkien dialect word for 'dating'.

History

Founding

Paktor was founded by Joseph Phua, Charlene Koh and Ng Jing Shen.[3] The idea of Paktor came about when Joseph broke up with a long-term girlfriend. After being ‘dumped’ when he was studying in the United States of America, Joseph tried mobile and online dating platforms in an effort to find dates. Based on his experience, Joseph decided to bring back the idea of an online or mobile dating platform to Singapore and Southeast Asia.[citation needed]

Paktor was first launched in Singapore in June 2013, when online and mobile dating was still in its infancy in Asia. Despite the immature market, there was a lot of interest from consumers and according to a Paktor newsletter, there were 250000 matches in the first 2 weeks of 2014 making Paktor the #1 social networking app for singles in Asia.[4] The company also shared that it had received over 100 million profile ratings at that time.

Features

Using Facebook, Paktor creates a user profile with photos that have already been uploaded. Basic information is gathered and users who are most likely to be compatible based on geographical location and common interests are then compiled into a list of matches.[5]. Based on the results of potential matches, the app allows the user to anonymously like another user by swiping right or pass by swiping left on them. If two users like each other it then results in a "match” and they are able to chat within the app. The app is available in Taiwan[6] , Malaysia, Indonesia[7] , Vietnam, Thailand and South Korea.

Company Overview

Financials

In March 2014, Paktor revealed its first round of funding with a US$500,000 pre-Series-A round that valued the brand at US$6.5 million[8]. At this time, co-founder and CEO Joseph Phua was quoted as saying that the app was “easily 10-20 times ahead of the next player”[9] referring to their main markets; Singapore, Malaysia, Vietnam, Thailand, Taiwan and the Philippines.

Series A was secured in November 2014, bringing the total raised to US$5 million[10]. This round was led by Vertex Venture, a subsidiary of Singapore’s Temasek Holdings. The funds were reported to be used for expansion into different territories and the introduction of new services under the Paktor group. At this time, the size of the network stood at 1.5 million registered users[10] .

The next milestone was the US$7.5 million Series B funding in July 2015[3]. This raised total funding to more than US$12 million and Paktor said its network had five million registered users and 12 million matches a month[1]. There were also 500 million monthly swipes on average across the region[11] .

Advertising

In 2015, the app appointed Taiwanese actress and social media personality, Ouyang Nini[12], and Indonesian actor, Junior Liem[13], as the brand’s ambassadors in Taiwan and Indonesia respectively. A series of visual advertisements[14] were launched with the appointment announcement. At a press conference, Ouyang Nini said that her father, former actor and Chinese Nationalist Party (KMT) Taipei City Councilor, Ouyang Lung[15], approves of her endorsement to use the app to meet new friends[16].

Reception

In the region

Beyond Singapore, Paktor is used widely in countries where it has been officially launched. Paktor is available in Taiwan[6] , Malaysia, Indonesia[7] , Vietnam and Thailand. The dating app first announced its regional expansion[17] with the sponsorship of the Taiwanese film “Rhythm of the Rain”[18] in October 2013. The app is available in fourteen languages and has a feature which enables translated chats between different languages.

As of October 2015, an estimated 6 million people in Southeast Asia use the app every month, with an average of 12 million matches per month and over 5 billion swipes to date[2]. There are an estimated 500,000 users in Indonesia alone[19] .

The app has its own localised slogan in Taiwan, "友妳選擇 友你選擇", which means ‘to choose your friend yourself’[20]. In January 2015, Paktor created two eye-catching telephone booths near Taipei’s iconic landmark, the Taipei 101, to encourage passers-by to explore the app and provide assurance that the app is a safe and private way to meet new friends across countries[21].

In 2013, Paktor set a Guinness World record for The World’s Largest Speed Dating Event held in Vietnam[22]. The event drew 600 participants including local celebrities popular among Vietnamese youth. This record was most recently broken by Calgary Speed Dating Inc. (Canada) at Telus Spark Science Centre in Calgary, Canada, on 14 February 2014[23]

In the media

Paktor has received widespread news coverage and been featured on TechCrunch[24] , Bloomberg[25] , CNBC Asia [26], CNN[27] and others. The app was positively received in Singapore when it was launched gaining over 25,000 users in the first month[28]. There were also comparisons to established mobile dating apps like Tinder and how it was a similar product and had the same mechanics.

The conservative nature of the Asia has also presented challenges, where regular dating and casual sex is frowned upon[29].

Criticisms

In 2015, a Reddit post highlighted the vulnerability of the GaiGai website due to the lack of security encryptions[30] GaiGai responded that it has since added SSL/TLS encryption. However, some Reddit users commented that more layers of encryption are necessary in order to provide better security for the clientele database. Paktor and GaiGai have since updated their privacy and data protection policy in August 2015[31][32]

References

  1. ^ a b "Singapore's Paktor gets $7.3M to become more than a dating app". TechInAsia.
  2. ^ a b "Local Tinder-like app Paktor draws another SG$10 mil in funding". Marketing Interactive.
  3. ^ a b "Paktor". CrunchBase.
  4. ^ "Dating app Paktor hooks up 250000 singles in two weeks". Vulcan Post.
  5. ^ "How One Dating App is Taking on Tinder in Southeast Asia | Inc". inc-asean.com. Retrieved February 26, 2016.
  6. ^ a b "交友app上市　倪安東把妹無國界". Apple Daily.
  7. ^ a b "Paktor is Officially Launched in Indonesia". Daily Social.
  8. ^ "Dating app Paktor raises $500,000, says it's number one in parts of Asia". TechInAsia.
  9. ^ "Dating app Paktor raises US$500K with valuation set at US$6.5M". e27.
  10. ^ a b "Dating app Paktor raises $3.3m Series A funding". DealStreetAsia.
  11. ^ "Dating app Paktor receives S$10 million in latest funding round". Channel NewsAsia.
  12. ^ "國民甜心歐陽妮妮代言亞洲第一大交友APP–Paktor拍拖". WOW! News.
  13. ^ "Ganteng dan Tidak Playboy, Aplikasi Kencan Ini Memilih Junior Liem Jadi Brand Ambassador". Inponsel.
  14. ^ "TVC Paktor Indonesia". Paktor ID.
  15. ^ "2014 ELECTIONS: Photogenic aides, relatives giving a boost to candidates". Taipei Times.
  16. ^ "老爸很開明！ 歐陽妮妮可以網交惹". Apple Daily.
  17. ^ "PAKTOR Announces Regional Expansion With Sponsorship of Taiwanese Film Rhythm of the Rain". MarketWired.
  18. ^ "Rhythm of the Rain". IMDB.
  19. ^ "Aplikasi Paktor Klaim Miliki 500 Ribu Pengguna di Indonesia". Avatar Nusantara Technologies.
  20. ^ "亞洲交友軟體領導品牌 Paktor全新改版 並首創「優質拍友公約". Sogi.
  21. ^ "在101見證下來場愛的連線！浪漫 Paktor 電話亭裝置". Damanwoo.
  22. ^ "Paktor & Sagiko Present A Guinness World Records Record Attempt - Paktor Speed Date Night - The World's Largest Speed Dating Event". PR Newswire.
  23. ^ "Largest speed dating event". Guinness World Records.
  24. ^ "With $5M In Funding, Tinder-Like Paktor Wants To Get Southeast Asia Using Dating Apps". TechCrunch.
  25. ^ "Finding the Perfect Match on Mobile". Bloomberg.
  26. ^ "Singapore entrepreneur turns heartache into cash". CNBC Asia.
  27. ^ "4 ways Asian dating apps are anti-Tinder". CNN.
  28. ^ "From heartbreak to Paktor, and how the mobile dating app craze is sweeping across Asia". TechInAsia.
  29. ^ "No hanky panky: Dating apps woo investors with local expertise". The Straits Times.
  30. ^ "PSA: Do NOT use GaiGai website (Paktor's offline dating service)". Reddit.
  31. ^ "Privacy Policy)". Paktor.
  32. ^ "Privacy and Data Protection Policy)". GaiGai.

Category:Geosocial networking Category:Mobile social software Category:Online dating services

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