PR NEWSWIRE – Mar 7 – Momo's Q4 2016 revenue increased 524% YOY to $246M. Net income increased to $83.8M, up from $6.1M in the same period last year. Monthly active users were 81M in December 2016, compared to 69.8M last year. Live video service, which was launched in Q3 of 2015, continued its strong momentum and generated revenues of $195M in the fourth quarter of 2016. The rapid growth in live video revenues is mainly because of the increase in paying users of live video service to 3.5M.
Category: Momo
Alibaba Is Selling Momo’s Shares
SEEKING ALPHA – Nov 17 – Momo's founder aims to continue forward as a standalone listed company following the termination of its buyout bid earlier this year. Momo suddenly called off its privatization this year without further explanation. Alibaba has sold off some of its stake in Momo. The sale reduced Alibaba's sizable Momo stake to 23.2%. Alibaba said in a statement that Momo has been a good investment, and it continues to remain a supportive shareholder.
by Doug Young
See full article at SeekingAlpha
This post also appears on InternetDatingInvestments.
Momo Q3 Financial Results
GLOBE NEWSWIRE – Nov 8 –
Third Quarter 2016 Highlights
- Net revenues increased 319% YOY to $157M.
- Net income increased to $39M.
- Monthly Active Users (MAU)1 were 77.4M, compared to 73M last year.
Live video service, which was launched in Q3 2015, continued its strong momentum and generated revenues of $108.6M in the Q3 2016. The rapid growth in live video revenues is mainly because of the increase in paying users of live video service. Paying users of live video service reached 2.6M. Membership subscription Q3 revenues were $18.1M, an increase of 13% YOY. Mobile marketing revenues were $17.7M, an increase of 64% YOY.
Chinese Dating App Momo Bets On Music
WSJ – Sep 7 – Momo, the Chinese Tinder, has moved from hooking up users to letting them get hooked on live music. It added a live-streaming function and lets users watch musicians perform live and interact with them. The shift has created a big splash. Momo's net revenue for Q2 tripled from a year earlier. That is mostly thanks to its live-streaming service, which already makes up more than half of the firm's revenue. Momo's stock has risen 56% since it released results.
More Expats Using Chinese Dating Apps
GLOBAL TIMES – May 11 – Chinese dating apps have been seeing growing popularity among expats living in China but cultural obstacles remain. Among the most popular apps, both for Chinese and foreign singles, are Tantan, Momo and Skout. Tantan claims one user for every 10 Chinese users in expat-heavy neighborhoods. Expats quickly discovered that while women in the West generally start out chatting about shared interests, Chinese women are more likely to ask about his job and future plans.
by Zhang Xinyuan
See full article at Global Times
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China Regulator Studying Issue Of Overseas-listed Firms Delisting To List In China
DEALSTREET ASIA – May 8 – China's securities regulator is analysing the impact of overseas-listed Chinese companies coming home to relist on mainland exchanges, potentially bad news for tech firms trying to come home and cash in on high valuations. The valuation gap between the domestic and overseas market and speculation on shell companies should be paid attention to, said Zhang Xiaojun, a spokesman for the China Securities Regulatory Commission (CSRC). The regulator made the comments following rumours that it would block domestic listings by companies currently listed overseas. "For companies already in the process of relisting at home, the faster they get done the better because regulatory uncertainties are rising," said a banker, who declined to be identified. Dating app Momo is one of the companies that wants to relist in China.
by Samuel Shen & Paul Carsten
See full article at DealStreet Asia
This post also appears on InternetDatingInvestments.
Momo Shares Surge On Alibaba’s Interest
CHINA DAILY – Apr 7 – Momo surged 33.6% after a regulatory filing showed Alibaba Group Holding's finance affiliates joined the group seeking to take the company private. Momo closed at $16.09 per American depository receipt on Wednesday, up $4.05, marking its biggest gain since the dating platform went public, raising $248M on the NASDAQ in Dec '14. Analysts expect the privatization to proceed more smoothly with strong backing, as according to Bloomberg, only 7 out of the 40 US traded Chinese firms that earlier proposed privatization over the past 12 months have completed the process.
by Dai Tian
See full article at China Daily
Don’t Buy Momo Based On Rumors
SEEKING ALPHA – Feb 29 – Momo Inc is known for its dating app Momo (launched in 2011) which is one of the most popular dating apps in China. The Chinese giant Alibaba Group has been backing Momo for a long time. They had a small stake in the company before Momo went public. In 2012, Alibaba Group took a 20% stake in the company for a valuation of $100M. In June 2015, CEO Yan Tang proposed to take the company private at $18.90 per share. The deal did not go through. Since the offer came in, Momo stock fell to $6.72 per share. When the offer was made, the stock was trading at $17. Last week, Momo appointed Alibaba Cofounder Joseph Tsai, and the stock jumped 31.5%. Momo will publish its Q4 2015 and full year results on March 15. Investors should wait till then to make any investments. Regardless of its app popularity, which boasts ~180M users, the company has remained unprofitable.
Momo Receives A Commitment From Alibaba To Go Private
SEEKING ALPHA – Feb 24 – Momo named Alibaba's vice chairman Joseph Tsai to its board. This move represents a commitment from the Chinese giant to help Momo's management to take it private. Last summer, executives at Momo proposed to acquire all of the American shares they don't already own for $18.90 each in cash. The management of Momo currently owns about 48% of the company's outstanding shares and has 84% of the voting power. Momo is known to be a Chinese version of Tinder.
See full article at Seeking Alpha
This post also appears on InternetDatingInvestments.
Tinder And Badoo Dominate The Dating App Market
by Simon Maybin, Emily Maguire, Henry Clarke Price, John Walton & Punit Shah
See full article at BBC
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