Shortly after we wrote that dating app LOLA is now part of the Lunch Actually dating group, another Singapore-made app, Lovebyte, dedicated for couples has just shared that it is now part of social entertainment platform migme!
In case you are unfamiliar with both the brands, migme is a social app that lets you stay connected with your existing friends or meet new people, join conversations, mingle to discover the next big star – or just hang out. What’s interesting about migme is that it leverages on well-known Asian celebrities to increase its audience. There are currently over 5,000,000 monthly active users on migme.
Lovebyte on the other hand, is a mobile app for couples: they can use it to chat with each other, share and timeline moments together, and is currently used by over 200,000 active users.
Apparently, what caught the attention of migme to bring LoveByte under its suite of products for users is the LoveByte’s “MiniMe” avatar maker. The “MiniMe” avatar feature in LoveByte allows user to customize and generate their own versions of LoveByte avatars.
“The trend is to a broader range of specialised social networks and we love what Amelia and her team have built with LoveByte. We’re looking forward to helping the Couples app grow. Moreover, the combination of the three capabilities – Couples app, avatars and virtual gifts – will help migme strengthen our avatar system and deepen engagement and monetisation options through premium activities for both LoveByte and migme,” said migme’s Chief Executive Officer Steven Goh.
Working with migme, LoveByte is now able to reach out to more users.
For those who are interested, the terms of the deal between migme and Lovebyte involve a purchase price of 757,939 migme shares to be issued on 1 July 2015. In addition, the LoveByte founders have signed employment agreements and have been granted employee options. The current share price of migme is AUD0.32.
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