DeNA, a Japan-based games site operator, has acquired a minority stake in South Korea-based VCNC, a software application developer that already has a globally popular app called Between, for couples to send text messages and virtual stickers as well as share anniversaries, schedules and photos. Financial details of the acquisition have not been disclosed.
DeNA plans to form a business alliance with VCNC to help monetise Between further and grow the service into an open platform for third-party services to meet the various needs of couples worldwide. As of December 2013, Between was downloaded more than five million times worldwide. The app is available for free download and it’s currently available in English, Korean, Chinese and Japanese on the App Store and Google Play.
DeNA plans to continue making investments in promising early- and middle-stage internet start-ups.
For VCNC, the partnership with DeNA’s investment will help it access users in the lucrative Japanese market while tapping into DeNA’s expertise in monetising popular programmes that run on mobile phones, as well as building relationships with e-commerce vendors.
According to CrunchBase figures, DeNA has raised $19.4m since 2000, and includes corporate venturing firms such as Nippon Technology Venture Partners, Sumitomo Corp., Mitsubishi Corp., Sony Communication Corp., Fobal and Koyosha as its backers.