NASDAQ-listed and China-based mobile social networking platform Momo has agreed to acquire a 100 percent equity stake in China-based social and dating application Tantan for a consideration of 5.3 million newly issued Class A ordinary shares in Momo and US$601 million in cash. Previous investors in Tantan include Genesis Capital, SAIF Partners, ZhongWei Capital, DST Global, Vision Plus Capital, LB Investment, DCM Ventures, GX Capital, Kleiner Perkins Caufield & Byers and Bertelsmann Asia Investments. The transaction, which is subject to customary closing conditions, is expected to close in the second quarter of 2018.