The advent of digital technologies and the Internet of Things (IoT) is becoming rapidly embedded in the economy. Estimates put the IoT market at US$1.7T by 2020, with 50-200 billion connected devices. This interconnectedness transforms the ability of industries across the spectrum to rethink every aspect of their business—from the production cycle through to customer interaction. It also creates new tools for cross-sectoral collaboration, with digital technology enabling companies to unite products and services in unique combinations. Data management platforms also support innovative product development more tightly referenced to end users. At its most transformative, the digital revolution and IoT will seamlessly blend many previously discrete consumer areas with substantive implications for their future growth.
We advised Jiayuan.com, the largest online dating platform in China, on its merger with FutureWorld Inc., an indirect, wholly-owned subsidiary of Baihe Network Co., Ltd. The deal positions the combined company for further growth in China's burgeoning online dating market.
We represented Novatel Wireless, Inc., a leading provider of solutions for the Internet of Things and inventor of MiFi® technology, in a private offering of US$120M aggregate principal amount of 5.50% Convertible Senior Notes due 2020. The offering enabled Novatel to finance investments in complementary technologies, including its acquisition of DigiCore Holdings Limited, a developer of GPS/GSM fleet management and vehicle tracking solutions.
We advised Collective Digital Studio, a U.S.-based, multi-platform digital entertainment company, on its merger with German broadcaster ProSiebenSat.1's online network Studio71. The new online video business, Collective Studio71, is a global multichannel network generating approximately two billion monthly video views.
We advised SoftBank Corp. on its US$1B investment in Coupang, the largest and fastest growing standalone e-commerce player in Korea. The deal furthers SoftBank's strategy for growth through increased investment in overseas internet companies, and marks the largest internet investment ever in Korea. We have advised SoftBank and its subsidiaries on a number of transactions over the years, including its financing of KuaiDiDache, a leading mobile taxi booking app in China; its sale of PPLive Corporation to Suning and Hony Capital; and its investment round for Wandoujia, one of China's largest mobile app distribution platforms.
As technology continues to transform the ways in which payments are exchanged in markets across the globe, our clients turn to us to help them navigate the complex and evolving regulatory landscape. We represent some of the world's largest and most innovative payment systems providers on transactional and regulatory issues.
Highlights include our work with Samsung on establishing Samsung Pay, its mobile payment system platform, including representing our longtime client in negotiating payment systems agreements with all of the major banks and credit card companies in the U.S. We are also advising Facebook on a wide variety of domestic and international payments matters, including assisting with the development and offering of a person-to-person money remittance service.
We are representing Airbnb, Inc. in financial services and transactional matters related to the expansion and operation of its business in numerous countries around the world. Our lawyers in Europe are currently advising our client on the regulatory treatment of the Airbnb platform for guests to pay hosts under existing and anticipated future payments regulation in the UK and at the EU level.
In addition, we are advising Hyperwallet, a leading global payouts provider to millions of independent workers, on regulatory matters related to our client's money transmission licensing process. We also continue to advise the creator of the largest online virtual world on regulatory and transactional matters involving electronic payments.