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Despite the immature market, there was a lot of interest from consumers and according to a Paktor newsletter, there were 250000 matches in the first 2 weeks of 2014 making Paktor the #1 social networking app for singles in Asia. In November 2017, Paktor Group appointed co-founder and chief technology officer Ng Jing Shen as CEO of Paktor Group, taking over from current CEO Joseph Phua.
Phua will remain the group CEO of M17 Entertainment which was formed after the merger of Paktor and 17 Media.
Investors are also attracted to the apps' potential in a region where consultants KPMG says 60 per cent of the population is aged below 35, and where incomes are rising.
"Our members have to know that this is no hook-up app and there is no hanky-panky," said Zuraimie Ismail, the founder of Mat & Minah, an app for Muslims seeking to find a potential spouse on their own, and not through family matchmakers.Many apps are linked to user Facebook profiles, which makes it possible to roll out targeted advertising.Some, like Paktor, the region's most popular app with some five million registered users, offer in-app purchases: members can buy virtual gifts to potential sweethearts, as well as tickets to singles' events organised by the start-up behind the app."Dating websites, like real estate and job portals, touch on a fundamental need," said Justin Hall, principal at Golden Gate Ventures, which invested an undisclosed amount in Thai dating app Noonswoon."In Southeast Asia, there is massive potential." Homegrown apps hope their understanding of local cultural norms will give them a leg up over global rivals such as US-based Tinder, which has millions more users but which is seen as a conduit for finding sexual partners, as well as friends.