Hyperconnect is expanding its own technology-based portfolioin order to become a global social platform company.
Hyperconnect, a Seoul based global video technology company, announced on Sep. 2 that, for the first half of 2020, sales rose by 80% year-over-year to 123.5 billion Korean won, as operating profit increased by 265% to 17.7 billion Korean won.
It is the largest growth experienced ever since the company was established in 2014, surpassing the 60% recorded yearly.
“Azar” and “Hakuna Live” sustained a significant upturn with aggressive investment
The global video chat service “Azar” and the social live streaming service “Hakuna Live”, created by the subsidiary Movefast company, showed continued headway in overseas markets, leading the trend.
This has added value to all that was achieved while pioneering and investing in technology. The thriving trend rate in the first half of the year has led to:
△ The development of a new global video service undergoing beta testing in North America and some countries in Europe.
△ The development of a new platform combining AI (artificial intelligence) and AR (augmented reality), to be launched in 2021.
Ahn Sang-il, the CEO of Hyperconnect, said, "Hyperconnect's highest performance ever was driven by the sweeping growth of existing services based on the company's technical capabilities and global business know-how."
“Azar”, which is supported in 19 languages and 230 countries around the world, exceeded 500 million downloads in the first half of the year.
“Azar”, where 99% of its users are global, ranked 4th in Google Play Europe's overall non-gaming app sales category in 2019, and 6th in the global Google Play non-gaming sales category in January of 2020. This shows an expansion in its influence in overseas markets and an acceleration in its pathway into a global platform.
“Hakuna Live”, which was released last year, exceeded 10 million downloads in March, less than a year from its official release. After that, it exceeded 15 million downloads in July, solidifying its position in the live streaming market by surpassing its predecessor, “Azar”.
“Hakuna Live” has seen a rise in popularity in Japan, India and the Middle East, with its differentiated technologies such as 'Guest Mode' and 'AR Avatar Function', which allows up to 4 people to broadcast simultaneously and without delay. Based on our know-how, we plan to expand the countries where these are released.
Expanding its own technology-based aggressive portfolio in order to become a global social platform company
From the second half of this year, Hyperconnect plans to start preparing to become a global social platform company.
In particular, the company plans to diversify its business portfolio by spurring new global businesses that combine new technologies, such as AI and AR, with excellent video communication technologies, such as WebRTC (real-time communication technology).
All new businesses and services are based on having a “global connection” that provides enjoyment through communication and shared interests. And, Theseconnection will be made going beyond everyday relationships in the virtual world, in which the company's technology and business know-how are integrated.
Hyperconnect is being considered for expansion into the B2B business field, by providing video communication technology as a solution.
“As requests for our globally recognized solutions for video communication technology increased, we are preparing a B2B type of business for global companies,” said CEO Ahn Sang-il. “We will strive to make 2020 the first step in becoming a global social platform company, by developing an aggressive global new business and services based on our own technology.”
