In an interview with The Edge Singapore, Jiang Honghui, CEO of 17Live, says this is due to an accounting matter, where preferred shares are revalued after the listing. While this does not have any material financial impact, it affects the group’s bottomline on paper.
Live-streaming platform 17Live has announced its financial results after more than a year of being listed on the Singapore Exchange (SGX:S68
) (SGX). The group was the first to successfully list via a special purpose acquisition company (spac). The spac, Vertex Technology Acquisition Corp (VTAC), was sponsored by Vertex Ventures, the venture capital arm of Temasek Holdings.
For its FY2024 ended Dec 31, 2024, 17Live announced a loss of about US$3.3 million ($4.4 million), narrowing from a loss of US$247.9 million a year ago, which included a revaluation loss. Its share price was down by around a third in the past year to close at 80 cents on March 12, valuing the company at $148.1 million.
