Ever imagine what it would be like to become famous? Or to have contact with a celebrity? M17 Entertainment (YQ) LTD, a live streaming and dating app that helps users connect with celebrity streamers or build their own audiences, may be the next revolution in social media.
The company's lead solution, M17 Media application, provides live streams of thousands of artists with a variety of different talents, such as singing, dance, drawing, and make-up tutorials. M17 aims to disrupt the entertainment by allowing any artist to build a following directly, without the use of traditional channels. Artists love the M17 platform for providing them with opportunities to cultivate followings, and users love that they can connect directly with creators in real time.
Co-Founder and CEO Joseph Jiexian Phua founded M17 Entertainment 3 years ago, or in July 2015, in Taipei, Taiwan, with the goal of overhauling the live streaming market. Phua has exceeded all expectations. M17 now accounts for 36.1% of the live streaming market for developed countries in Asia, including Taiwan, Hong Kong, Japan, Indonesia, Singapore, and South Korea. with Its market share is worth $37,903,577. They earn the highest revenue in the market. Their success has been dizzyingly fast: it took only 248 days to reach 10 million downloads upon initial release in Taiwan. As of March 31st, 2018, M17 had 47.9 million registered users.
Now, M17 hopes to raise $83 million by offering about 7,511,00 American Depository Shares (ADSs) on the NYSE. The share price will range from US $10 to $12. Eight underlying class A shares, each entitled to one vote per share, will make up each ADS. Class B holders will get 20 votes per share, double the norm - meaning that M17 will retain significant voting power, if not economic power. M17 will use $60 million of the proceeds to expand its Japanese market, $10 million to develop content, and the remainder for unspecified merger and acquisition opportunities.
The June 4, 2018 IPO will be the first opportunity for US investors to get a taste of M17's success. This may be well-timed opportunity, as the video streaming market is estimated to grow to $70 billion by 2021 at a CAGR of 18.3%. While there are several other competitors in this area, including major outfits like Adobe Systems Incorporated
What does the name "M17" actually mean? In China, the number 17 symbolizes "togetherness," which represents the core of M17's social platform.
- https://m17.asia/en/about
- https://www.renaissancecapital.com/IPO-Center/News/56769/Taiwans-live-streaming-service-M17-Entertainment-sets-terms-for-$83-million
- https://www.nasdaq.com/markets/ipos/company/m17-entertainment-ltd-1053476-86852
- C-6rtwjumjzx7877x24bbbx2ewjsfnx78x78fshjhfunyfqx2ehtr.g00.nasdaq.com
- https://m17.asia/en/product/17media/
- https://m17.asia/en/media/114/20170908
- https://www.prnewswire.com/news-releases/video-streaming-market-worth-usd-7005-billion-by-2021---online-video-streaming-has-increased-viewership-60---research-and-markets-300267717.html
- https://www.nasdaq.com/article/taiwans-live-streaming-service-m17-entertainment-sets-terms-for-83-million-us-ipo-cm969229
