Vertex SPAC – Paying a high price for acquisition of 17LIVE
By Beansprout  •  November 19, 2023


Proposed combination with 17LIVE. Vertex Technology Acquisition Corporation (VTAC) has announced a proposed business combination with 17LIVE, a leading live-streaming platform in Japan and Taiwan with about 550,000 monthly active users (MAU) in 1H FY2023 and 87,000 contracted streamers as of 30 June 2023. 17LIVE is targeting to tap on growing live-streaming industry. The live-streaming industry is forecasted to expand at a compounded annual growth rate (CAGR) of 22.0% in Japan and 11.2% in Taiwan from 2023E to 2027E, according to forecasts by Frost & Sullivan. In addition, 17LIVE is aiming to grow in the virtual live streaming (V-Liver) segment and tap into new markets such as Southeast Asia. Near-term prospects muted. Despite the growth in the live-streaming industry,  17LIVE’s MAU has declined from 2H21 following the lifting of COVID-19 pandemic restrictions. In addition, average revenue per spending user (ARPPU) remains under pressure as users returned to more offline entertainment. These...
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