Momo To Raise Up To $232M From US IPO

GLOBAL TIMES – Nov 30 – Momo, Chinese mobile social app, plans to raise ~$232M from a listing in NASDAQ. The IPO price will be $12.50 – $14.50 per share. Momo launched in Aug '11, and claims 180.3M registered users. Momo's fast emergence has been accompanied by controversy over its functions, as some users use the app for setting up blind dates or seeking one-night stands. The app began to generate revenues in 2013 from subscription fees, mobile games, paid emoticons and mobile marketing services, but the company has yet to post a profit. It reported a net loss of $22.9M in the first nine months of 2014.