Live in 3, 2, 1. 17LIVE, a livestreaming app popular in Japan, Taiwan, and SEA, went public on the Singapore Exchange last December 8.

• What’s the big deal? This was Singapore’s first-ever listing via a special purpose acquisition company (SPAC) merger! More on that below.

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🎙️ The ABCs of 17LIVE

For some content creators, livestreaming is fast becoming a way to earn a living.

According to 17LIVE, about 16% of their monthly active users spend money to buy digital gifts for creators.

Oh, and the average monthly revenue generated from each spending user? $302 a month!

• What do streamers do? They cover music, read tarot cards, draw, and more—sometimes, they don’t even need to show their face!
• The platform allows users to stream as virtual idols or computer-generated characters. 

Japan, FTW? Although 17LIVE first launched in Taiwan, their biggest market is in Japan, which accounts for 70% of their revenue!

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🫡 SPAC facts

SPACs are blank-check firms with no commercial operations. They’re essentially shell companies that raise capital in an IPO and use the cash to merge with an existing private company to make it public. 

These days, more firms are opting to go public via SPACs and not IPOs because it can be cheaper and take less time to complete.

• In Singapore, local SPACs have two years to acquire a company.

Speaking of firsts. The Singapore Exchange became Asia’s first major exchange platform to allow SPAC listings way back in 2021.