PANDAILY – Aug 3 – Momo, Chinese mobile social and entertainment platform, has changed its name from "Momo Inc." to "Hello Group Inc.". The company's main products are Momo and Tantan. Hello Group was established in 2011. On Dec 12, 2014, the company was listed on the NASDAQ Stock Exchange. In May 2018, they completed the acquisition of 100% equity of dating app Tantan.
Category: Momo
Momo to Change Its Name to Hello Group
PR NEWSWIRE – June 28 – Momo, a leading mobile social and entertainment platform in China, will hold an Extraordinary General Meeting of Shareholders on August 2, 2021. The purpose of the EGM is for the Company's shareholders to approve the change of the company's legal name from "Momo Inc." to "Hello Group Inc."
Momo Looks for Excitement With Tantan Overhaul
SEEKING ALPHA – June 11 – Momo believes its underperforming Tantan app could grow strongly following a major overhaul now in the works. Tang Yan's move from the CEO's office was just the beginning of a bigger shakeup. That shakeup claimed new victims in April with the departure of the CEO and COO of the Tantan app that Momo acquired for $760M in 2018. Momo's current CEO Wang Li, formerly Momo's longtime COO, confirmed the changes at the top of Tantan on the company's action-packed investor call following the release of its quarterly earnings this week. Investors seemed to welcome the news, with Momo’s shares up 10% since the announcement of the company's latest quarterly results. The company's revenue fell 3.4% to $543M in the Q1, and Momo said it expects another decline of ~5% in the current quarter. Both of those figures do represent an improvement from the 12% revenue decline from last year, including a 19% drop in the Q4. Q1 profit was similarly uninspired, falling 14%.
Momo Q1 Financial Results
MOMO – June 9 – Q1 2021 net revenues decreased by 3.4% YOY to RMB3,470.6M ($529.7M). Net income attributable to Momo decreased to RMB461.7M ($70.5M) from RMB538.9M in the same period of 2020. Monthly Active Users on Momo app were 115.3M in March 2021, compared to 108M in March 2020. Total paying users of our live video service and value-added service, including 3.5 million paying users of Tantan, were 12.6M for the Q1 of 2021, compared to 12.8M for the Q1 of 2020, which included 4.2M paying users of Tantan.
Momo Could Buy Back Itself in Under 6 Years
SEEKINGALPHA – Apr 20 – Momo's fair market value could be ~250% above the current market price. The company's dating business is poised for growth post-Covid. A reduction in ad costs should allow Momo to grow without sacrificing profit margins. Dating, a significant part of momo's business fell as people quarantined until the pandemic started to come under control in May of 2020. Momo paid ~$800M for TanTan in 2018. Beyond TanTan, Momo's business segments consist of live streaming, value-added services (virtual gift giving & paid subscriptions), marketing, and gaming. The combined valuation estimate for dating, live-streaming, and VAS is $4.6B.
Momo’s Q4 and 2020 Financial Results, Revenue Impacted by Covid-19
MOMO – Mar 25 – Q4 2020 net revenues decreased by 19% YOY to RMB3,795.2M ($581.6M). Net income decreased to RMB651M ($99.8M) from RMB1,055.9 in the same period of 2019. Monthly Active Users on Momo apps were 113.8M in Dec 2020, compared to 114.5M in Dec 2019. Total paying users, including 3.8M paying users of Tantan, were 12.8M, compared to 13.8M in Q4 2019. Full Year 2020 revenues decreased by 11.7% YOY to RMB15,024.2M ($2.3B). Net income was RMB2,103.5M ($322.4M), compared with RMB2,970.9M during the same period of 2019.
Momo’s Q3 Results: Revenue Down 15%, Net Income Down 50%
PR NEWSWIRE – Dec 1 – Q3 net revenues decreased by 15.4% YOY to RMB3,767M ($555M). Net income attributable to Momo decreased ~50% to RMB457M ($67M). Monthly Active Users on Momo apps were 113.6M in September 2020, compared to 114.1M in September 2019. Total paying users of live video service and value-added service, including 4.1M paying users of Tantan, were 13M, compared to 13.4M last year's Q3, which included 4.5M paying users of Tantan. Live video service revenues were $350M, down 27% YOY.
Momo Announces New CEO
PR NEWSWIRE – Oct 23 – Momo, a leading mobile social networking platform in China, announced that its board of directors has approved Mr. Yan Tang to step down from the CEO position, and promoted Mr. Li Wang to this position. Mr. Wang was serving as the President and COO of Momo. Mr. Yan Tang will become the executive chairman of the board of directors of Momo.
Momo Announces Q2 Results: Revenue Down 7%
PR NEWSWIRE – Sep 3 – Net revenues decreased by 6.8% year over year to RMB3,868.3M ($547.5M). Net income decreased to RMB456.4M ($64.6M) from RMB731.8M in the Q2 of 2019. Monthly Active Users on Momo app were 111.5M in June 2020, compared to 113.5M in June 2019. Total paying users of our live video service and value-added service, including 3.9M paying users of Tantan, were 12.8M.
Momo’s Q1 Financial Results: Revenue Down 3.5%, Net Income Up
MOMO – May 28 – Q1 revenue decreased by 3.5% YOY to RMB3,594.1M ($507.6M). Net income attributable to Momo increased to RMB 539M ($76.1M) in Q1 2020 from RMB 289M in the same period of 2019. Monthly Active Users on Momo app were 108M in March 2020, compared to 114.4M in March 2019. Total paying users of live video service and value-added service, including 4.2M paying users of Tantan, were 12.8M for the Q1 of 2020, compared to 14M in Q2 of 2019. "Q1 2020 was a challenging and yet very fruitful quarter for Momo," commented Yan Tang, Chairman and CEO of Momo.