April 18, 2024

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Video chatting app operator Hyperconnect’s sales jumped 68 percent in 2018 to reach a record high, the company said on April 2.

The South Korean company said its growth was due to the growing popularity of its messenger app Azar. Launched in late 2013, the app was downloaded by more than 300 million users as of December 2018, only 9 months after it hit the 200 million mark. The sales, mostly based on in-app purchases by users, stood at 104.5 billion won ($91 million) while its net profit jumped 134 percent to 17 billion won. 

The company which has seven overseas branches in countries like Turkey, India and United Arab Emirates said it plans an aggressive global expansion this year based on mobile video technology and machine learning.

“Video-based services are leading the mobile app market around the world,” said Ahn Sang-il, founder and CEO of Hyperconnect. “The year 2018 was meaningful as we achieved our best performance with decent sales as well as sound profitability even with fierce competition. We could also strengthen our foundation for the company’s future growth.”

The firm is gearing up for a public listing in South Korea.

By Park Ga-young (gypark@heraldcorp.com)