Momo China Dating Site

1. Momo Dating App China
2. Momo China App

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Momo (陌陌) Momo is, by far, the most popular Chinese dating app and by the number of users this mobile app is only second to WeChat. In the last couple of years Momo has been trying hard to improve its past seedy reputation re-positioning itself more of an interest based social app rather than purely a hook up service. Often referred to as the “Chinese Tinder”, Tantan was recently acquired by Momo, one of the biggest social networking apps in China. Tantan is a must if you’re living in or visiting a mega city like Shanghai or Beijing. It has an English version, so it’s the perfect Chinese dating app to try if you don’t speak Mandarin. Soul app was launched by Shanghai-based Renyimen Technology in 2015, allowing the young.

Momo (Chinese: 陌陌; pinyin: mò mò) is a free social search and instant messagingmobile app. The app allows users to chat with nearby friends and strangers. Momo provides users with free instant messaging services through Wifi, 3G and 4G. The client software is available for Android,^[1]iOS,^[2][3] and Windows Phone.^[4]

Momo officially began operations in July 2011, and a month later, launched the first version of the app for iOS.^[5] Momo filed for a NASDAQ IPO on November 7, 2014 and was listed in December 2014.^[6]

History[edit]

Founding and incorporation[edit]

Tang Yan, Zhang Sichuan, Lei Xiaoliang, Yong Li, and Li Zhiwei co-founded Beijing Momo Technology Co., Ltd. in July 2011.^[5]Prior to founding the company, Tang Yan worked as editor and then editor-in-chief at NetEase. In October 2014, Tang was named by Fortune Magazine as one of its '40 Under 40,' a list of the most powerful business elites under the age of 40.^[5]The other co-founders all have prior experience with major Chinese Internet companies. In order to facilitate foreign investments, Momo’s co-founders incorporated a holding company called Momo Technology Company Limited in the British Virgin Islands in November 2011. In July 2014, Momo Technology Company Limited was renamed to Momo Inc. and re-domiciled to the Cayman Islands.^[5]In December 2011, Momo established Momo Technology HK Company Limited (Momo HK) as a wholly owned subsidiary in Hong Kong. In March 2012, Momo HK established Beijing Momo Information Technology Co., Ltd.(Beijing Momo IT), a wholly owned People’s Republic of China subsidiary. In May 2013, Beijing Momo established Chengdu Momo Technology Co., Ltd.(Chengdu Momo), as a wholly owned subsidiary.^[5]

Growth[edit]

In December 2011, Momo announced reaching half a million users.^[7] Three months later, the number of Momo users reached 2 million.^[8] Momo reached 10 million users on its first anniversary in August 2012.^[9] In October 2012, Momo surpassed 15 million users. In 2014, App Annie reported that Momo was the number 2 non-game app of 2013 in terms of revenue.^[10]In February 2014, TechNode reported that Momo had announced reaching 100 million registered users. Momo executives also claimed they had reached 40 million monthly active users (MAU).^[11]According to Momo, in June 2014, total registered users and MAU reached 148 million and 52.4 million respectively.^[12]China Internet Watch reported more conservative estimates. In the months of August and September 2014, Momo had 51.279 and 52.101 million MAU. While Momo’s MAU grew, Wechat and QQ both lost MAU within the same time frame.^[13] Momo's prospectus reported 60.2 million MAU in September 2014.^[5]

Momo Dating App China

Financing[edit]

Momo reportedly raised USD 2.5 million in Series A financing. Angel investor, PurpleSky Capital (ZiHui ChuangTou), and Matrix Hong Kong led this round of financing.^[14] However, Momo's Form F-1 filed with the SEC reports that USD 5 million was raised in this round of financing.^[5] Momo Inc. completed its Series B financing in October 2012. This round of financing was led by two institution investors and received $100 million valuation. China Renaissance Partners acted as the exclusive financial advisor.^[15] There was much speculation as to whether or not Chinese e-commerce giant, Alibaba Group, was involved in this round of financing.^[16] Momo’s registration statement verifies this claim.^[5] In total, Momo raised approximately USD 40 million.^[16]In October 2013, raised USD 45 million in Series C financing. Matrix Hong Kong, Gothic Partners, L.P., PJF Acorn I Trust, Gansett Partners, L.L.C., PH momo investment Ltd., Tenzing Holding 2011 Ltd., Alibaba Investment Limited, and DST Team Fund Limited were all issued and sold Series C preferred shares.^[5]In May 2014, Momo raised USD 211.8 million in Series D financing. Momo sold Series D preferred shares to Sequoia Capital China Investment Holdco II, Ltd., Sequoia Capital China GF Holdco III-A, Ltd., SC China Growth III Co-Investment 2014-A, L.P., Rich Moon Limited, and Tiger Global Eight Holdings.

Momo China App

Product and services[edit]

Momo’s mobile application is available on Android, iOS, and Windows platforms. It enables users to establish and expand their social relationships based on similar locations and interests.^[17] Some features of the application include subsections like: Nearby Users, Groups, Message Board, Topics, and Nearby Events. Users can send multi-media instant messages as well as play single and multi-player games within the app’s platform.^[5] Users also make a Facebook-like profile and are encouraged to include as much information as possible. Momo execs claim that this allows their software to create more accurate matches with nearby strangers. Momo is claimed to 'sift through the clutter of mobile Internet users to find personalized matches for its users'.^[18]Momo offers users paid membership subscriptions.^[19] A membership will cost around USD 2 a month, or less if a user commits to a longer term of use. Benefits of a paid membership includes: VIP logos, advanced search options, discounts in the emoticon store, higher limits on maximum users in a group, and the ability to see a list of recent visitors to a user’s profile page.^[5] As of September 30, 2014, there was 2.3 million paid subscriptions.^[5]Like many other instant messaging services, Momo has integrated mobile games into their platform to monetize off their large user base. Third parties develop games, and revenues from in-game purchases are shared between Momo and the developers.

In August 2014, Momo launched Dao Dian Tong, a marketing tool for local merchants. Through Dao Dian Tong, local businesses and merchants can construct profile pages that allow Momo users to find them with the Momo’s LBS. Members can see the businesses just as they would see other Momo users.^[5]Momo plans to further monetize user traffic by referring users from the Momo platform to e-commerce companies. Alibaba was specifically mentioned in Momo’s Form F-1.^[5]

Corporate affairs and cultures[edit]

Anti-plagiarism[edit]

In December 2012, Momo made an official announcement to accuse Sina Corp of copycatting straight from all the features of Momo Group. However, Sina Corp did not give its formal response.

Statement made by NetEase[edit]

On December 10, 2014, NetEase released a statement accusing that Tang Yan has professional ethic issues, business ethics issues, and has been detained due to personal affairs by the local police in 2007.^[20]

Public opinions[edit]

Hook-ups and homeless dogs[edit]

On April 27, 2012, Mike Sui, a mixed-race comedian and performer in China, first posted his '12 Beijingers'^[21]viral video which attracted nearly 5.17 million hits. In this video, one character mentions Momo, for the first time calling it a magical tool to get laid (Chinese: 约炮神器; pinyin: yuē pào shén qì ).^[22] Momo has spent millions of dollars to reverse the image of Momo as a one-night stand app.^[5] Momo, through its Weibo account, continues to engage the online community through various campaigns. Momo’s latest online campaign focused on supporting the homeless cats and dogs of China.^[23]

Relationships[edit]

Although Momo is widely considered as a social media application, there are claims that meetings on Momo resulted in marriage.^[24][25]

See also[edit]

References[edit]

1. ^'Momo for Android'. Retrieved 25 January 2013.
2. ^'Momo for iOS in Chinese'. Retrieved 25 January 2013.
3. ^'Momo for iOS in English'. Retrieved 25 January 2013.
4. ^http://www.windowsphone.com/en-us/store/app/%E9%99%8C%E9%99%8C/052feb16-5bdd-4107-bcaa-09ed39590c91
5. ^ ^{abcdefghijklmno}https://www.sec.gov/Archives/edgar/data/1610601/000119312514403408/d732862df1.htm#rom732862_9
6. ^https://techcrunch.com/2014/11/09/momo-a-flirting-app-with-180m-users-is-latest-chinese-tech-firm-to-file-for-a-u-s-ipo/
7. ^Chiang, Ben. 'Mobile Social App Momo Surpasses Half a Million Users, Coming to Android'. TechNode. Retrieved 25 January 2013.
8. ^Millward, Steven. 'Momo App Reaches 2 Million Flirty Users, Says Some of its Couples Have Married'. Tech In Asia. Retrieved 25 January 2013.
9. ^Millward, Steven. 'Momo App Hits 10 Million Users, A Whole Lot of Flirting Going On'. Tech In Asia. Retrieved 25 January 2013.
10. ^http://technode.com/2014/02/05/china-top-revenue-generating-mobile-apps-of-2013/
11. ^http://technode.com/2014/02/07/momo-100-million-registered-accounts/
12. ^http://technode.com/2014/10/13/momo-china-next-social-conglomerate/
13. ^http://www.chinainternetwatch.com/ebook/top-100-mobile-apps-sep-2014/
14. ^'Social Networking App Momo Said to Close 2nd-round Financing'. Contact Center Solutions Industry News. Retrieved 25 January 2013.
15. ^http://www.chinarenaissance.com/en/trans/style/adver/686.html
16. ^ ^abhttps://www.techinasia.com/momo-app-alibaba-funding/
17. ^http://www.immomo.com/?v=zh
18. ^https://thenextweb.com/asia/2012/10/27/one-in-a-billion-how-technology-is-transforming-dating-in-china/
19. ^https://thenextweb.com/asia/2013/06/28/chinese-flirting-app-momo-targets-monetization-with-introduction-of-premium-membership-and-stickers/
20. ^'陌陌上市前夜CEO遭老东家痛批：没职业操守作风不端'. Retrieved 10 December 2014.
21. ^Sui, Mike. '12 Beijingers'. Retrieved 25 January 2013.
22. ^Lin, Xu. 'First Impressions Count'. China Daily. Archived from the original on 28 February 2014. Retrieved 25 January 2013.
23. ^http://www.weibo.com/momotech
24. ^'Met on Momo and resulted in marriage'. Retrieved 25 January 2013.
25. ^'Met on Momo and resulted in marriage'. Retrieved 25 January 2013.

External links[edit]

Even prior to the pandemic the stock of Chinese online dating firm Momo (NASDAQ:MOMO) has been on a downtrend. The company has had a rough few years after running afoul of state regulators and feeling the effects of the coronavirus pandemic.

MOMO stock currently trades at around $15.90. A lot of the bad news regarding slowing revenue has already been discounted into the current share price. This leads me to believe that the company could be potentially undervalued at these price levels.

MOMO Stock Has a Lot of The Negatives Already Priced In

Momo’s recent earnings surprised Analysts as the company beat earnings expectations by 16%. Despite the earnings beat, the company still posted negative growth for the quarter and the full year. In Q4 2020, Net Revenues decreased by 19.0% from 4.7 billion RMB to 3.8 billion RMB (roughly $581.6 million). Full-year 2020 revenues decreased by 11.7% compared to 2019 to 15 billion RMB .

Despite the revenue decline, Momo still has a solid long-term competitive advantage. Momo owns two of China’s top dating apps, its namesake Momo and Tantan which it acquired in 2018. The company is structured so that the Momo app is the older “cash cow” while Tantan is the newer faster-growing app.

Unlike Western dating apps from Match Group (NASDAQ:MTCH) or Bumble (NASDAQ:BMBL) which rely on ads and subscriptions, Momo relies heavily on live video services for its revenues. Both the Momo app and Tantan heavily utilize live streaming as their revenue source. Live streaming made up roughly 64.1% of revenues in 2020 and 73% of revenues in 2019.

In 2020 live streaming revenue declined a massive 31.2% as its top-paying users tightened their purse strings. Total paying users of the live video service declined from 13.8 million in 2019 to 12.8 million in 2020. As live streaming revenue is mostly derived from virtual “gifts” and “tips”, it is much more discretionary. Therefore the economic uncertainty caused by the pandemic has affected Momo’s revenues much more than its Western counterparts.

Momo is Ready For a Turn-around

The company reformed its live stream business in August 2020 in order to focus more on long-tail content and reduce reliance on “big spenders”. This will ensure that the business is in a healthier state post-pandemic. As China continues to vaccinate its population, the restrictions on social interactions will begin to ease, and life return to normal. Therefore Momo could have a potential revenue jump in 2021 as social interaction-based live-streaming begins to pick up.

Apart from the resurgence in its live streaming business, there are two other catalysts that could send MOMO stock higher. The company has been strengthening its value-added services revenue which increased by 24.5% in 2020. Value-added services consist of additional features and functions as well as virtual items. The company has stated in its earnings call that 80% of time spent in the Momo app is not related to live streaming. Therefore with new innovative products, Momo can reduce its dependence on live streaming and transition into a more “social networking” product.

Tantan is another catalyst for massive growth as the app is the closest thing China has to Tinder. The company has said that Tantan is still a “relatively young brand” and that there is still room to grow its user base. Tantan seems to appeal to the Gen Z market, and thus shows a lot of potential. In the earnings, call management has detailed plans to further increase marketing spending and to optimize the overall experience.

Investor Takeaway

Citi analyst Yiwen Zhang upgraded the rating of Momo from “Neutral” to “Buy,” giving the stock a price target of $19.30. Zhang believes that live-streaming revenue will start to recover in Q2 2021. Momo ended 2020 with EPS of $0.77 using the share price of $15.90 gives us a 2020 P/E of about 20.6x. This implies the stock is fairly valued at these levels.

However, this doesn’t take into account the company’s massive cash reserves. The company has about 10.9 billion RMB o in cash against long-term debt of 4.6 billion RMB. Taking this net cash position into consideration, Citi states that the current market cap implies a 2.5x 2022 P/E. Using Citi’s price target, Momo has about a 21% upside in the short-term. In the long-term though, as stated earlier, Momo has multiple potential catalysts that could surprise analysts on the upside.

I think Momo is a solid addition to an investment portfolio.

On the date of publication, Joseph Nograles did not have (either directly or indirectly) any positions in the securities mentioned in this article.