Hyperconnect CEO Ahn Sang-il steps down 10 years after establishment

Hyperconnect LLC Chief Executive Officer Ahn Sang-il [Courtesy of Hyperconnect]

Hyperconnect LLC Chief Executive Officer Ahn Sang-il will step down from his position after founding the company10 years ago.

Ahn launched its chat applications Azar and Hakuna Live in the global market and sold the company to the U.S. Match Group, Inc., which operates the world’s No. 1 dating chat app Tinder, for nearly 2 trillion won ($1.57 billion). He is a founder of a unicorn company with a corporate value of more than $1 billion.

On Wednesday, local time, Match Group announced on its blog that Ahn has been appointed as the chief innovation officer of Match Group Asia. “I will be stepping down as CEO of Hyperconnect in October,” Ahn said on social media, noting that it had been 10 years since the company was founded. “I have been a co-founder for eight years and a professional executive at Match Group for the past two years since the company was acquired. I will not be leaving Hyperconnect after October, but will continue to work closely with the senior leadership team in my role as chairman.”

“After starting a company in Korea with a product made with the world’s pioneering technology, I grew a global business with 99 percent in international sales,” Ahn said. “After selling the company to a U.S. company, I was part of the management system of a U.S. publicly traded company, gaining knowledge and experience that money can’t buy, as well as systematic training as a manager.”

Hyperconnect is a local company that was acquired by Nasdaq-listed Match Group in 2021 for $1.73 billion in a 100 percent stock exchange with cash. Azar, which Hyperconnect operates, has already surpassed 400 million global downloads in 2019. Ahan’s LinkedIn profile describes him as an “eternal amateur entrepreneur.” “I look forward to taking on new challenges and meeting you in the global market with exciting products soon,” he said.