Category: Momo

China Dating App Momo Goes Ahead With Nasdaq IPO

Posted on December 12, 2014

Momo nasdaqSCMP – Dec 11 – Allegations of misconduct against a former employee just 40 hours before his new venture Momo went public have created a media backlash against NetEase – China's fifth-largest internet firm by market value. Tang Yan, CEO of mobile dating app Momo, was accused of "acquiring information and technological resources" to establish his own firm in 2011, while still working as the editor-in-chief of NetEase's news portal 163.com the firm alleged on Wednesday. Momo's IPO went ahead as planned on Thursday on Nasdaq, raising $216M. The stock rose 26% during the trading day, ending at $17.02, giving Momo a market capitalisation of $3.17B.

by Chris Luo
See full article at SCMP

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Summarized by Courtland Brooks Internet Dating Marketing Consulting

Momo vs. Momo: China’s Tinder Fights For Its Name

Posted on December 10, 2014

Momo app logoWSJ – Dec 9 – Hangzhou Momo Wedding Service sued the better-known Beijing Momo Technology, the one set for a Thursday U.S. IPO , alleging they have exclusive use of the brand for what in China is called the friend-making businesses. The trial will likely take place around the end of December. Beijing Momo was founded in March 2011. Hangzhou Momo had the Momo trademark transferred to it this year from a software business.

by Yang Jie & Eva Dou
See full article at WSJ

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Summarized by Courtland Brooks Internet Dating Marketing Consulting

Momo To Raise Up To $232M From US IPO

Posted on December 1, 2014

Momo app logoGLOBAL 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.

by Chen Yang
See full article at Global Times

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This post also appears on InternetDatingInvestments.

Summarized by Courtland Brooks Internet Dating Marketing Consulting

The Guy Behind Momo, China’s Tinder

Posted on November 12, 2014

Momo tang-yanFORTUNE – Nov 3 – Tang Yan started a Chinese social network called Momo that now has 60M monthly active users. He spent eight years at the news site of 163.com, one of China’s top Internet portals, eventually running it, before getting the idea for Momo when location apps like Foursquare were gaining popularity. Momo has become one of the most popular apps in China, and is planning an IPO that values the company at $3B. Momo brings in cash from some paid add-on features, and is exploring new business models, such as running ads from close-by restaurants and small businesses.

by Scott Cendrowski
See full article at Fortune

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Summarized by Courtland Brooks Internet Dating Marketing Consulting

Maker Of Chinese Dating App Momo Files For U.S. IPO

Posted on November 10, 2014

Momo app logoWSJ – Nov 7 – Momo Inc, the maker of Chinese dating and chat app Momo, has confirmed its plan to go public in the U.S. Momo has grown rapidly since its 2011 launch. It began as an online dating app, but it has pushed to become a platform to help people with shared interests connect in locales across China. Monthly active users reached 60.2 M in September, more than doubling from a year earlier. Membership subscription fees accounted for 63% of its revenue in H1 2014. Total H1 2014 revenue was $13.9M, up from $3.1M in the comparable 2013 period. Net loss was $8.3M, compared with a $9.3M loss in the H1 of 2013. Alibaba owns a 21% stake in Momo.

by Josh Beckerman
See full article at WSJ

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Summarized by Courtland Brooks Internet Dating Marketing Consulting

Momo Reportedly Targets December For US IPO

Posted on October 17, 2014

Momo app logoTECH IN ASIA – Sept 30 – The Chinese tech media is reporting that the company plans to release its prospectus on November 11 and will be shooting for a December IPO in the USA. It’s looking to raise between $200 and $300M and targeting an overall valuation of $3B. Momo had more than 50M monthly active users as of July.

by C. Custer
See full article at Tech In Asia

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Summarized by Courtland Brooks Internet Dating Marketing Consulting

China’s Momo Adds Location-based Ads For Businesses

Posted on August 15, 2014

Momo screenshot adsTECH IN ASIA – Aug 15 – A new update to the app for iOS heralds the arrival of the startup’s mobile advertising platform. It brings ads and promos for nearby stores into the location-based listings, mixed in with the men or women trying to mingle. The app has over 150M registered users (52M monthly active users). Momo added in special interest groups and Foursquare-style check-ins in 2013, so the flirty app has already evolved into a broader social network revolving around what’s happening nearby. Momo was under pressure earlier this year over the number of prostitutes allegedly using the app.

by Steven Millward
See full article at Tech in Asia

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Momo Is Shutting Its English Service

Posted on June 20, 2014

Momo app logoTHE NEXT WEB – June 19 – Momo, the popular Chinese flirting app valued at $2B, will discontinue the English version of its service on July 1. The app is hugely popular in China and boasts ~100M downloads. Back October 2012, it launched its English version but it seems that the move didn’t go according to plan, even though the company claims users in 150 countries.

by Jon Russell
See full article at The Next Web

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Chinese Dating App, Momo, To File For IPO

Posted on May 9, 2014

Momo app logoWSJ – May 9 – Beijing Momo Technology is working with banks including Morgan Stanley MS and Credit Suisse Group on a U.S. listing that could happen later this year. Momo has grown rapidly since its 2011 launch. As of January it had ~35M MAU. It began as a dating and hookup app, but over the past year became a platform to help people with shared interests connect in locales across China. Momo was recently valued at ~$2B in a private fundraising.

by Telis Demos
See full article at WSJ

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Flirty Chinese Chat App Momo Passes 100M Users

Posted on February 10, 2014

Momo app logoTECHINASIA – Feb 10 – Of that group, 40M use the social discovery app on a monthly basis, and 15M on a daily basis. Momo has doubled its userbase since July. Momo uses location to connect people who are nearby. Users can join hobby and activity groups. The app monetizes by selling stickers and games. The company launched its third game title one month ago, which has since been activated by 1.4M accounts and has generated $1.9M in revenue.

by Josh Horwitz
The full article was originally published at TechInAsia, but is no longer available.

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