- Momo Inc. facilitates social interaction for a primarily Chinese audience, utilizing a powerful database to customize user experiences.
- The company’s subsidiary streams are geared toward video sharing, online dating and TV and radio production interests.
- The COVID-19 pandemic’s safety measures limiting virus spread have driven a growing number of youths to social media for interaction with others.
- Momo has reconfigured its top leadership to create new energy for the company as it works to recover from the pandemic.
Momo Inc. (NASDAQ: MOMO), headquartered in Beijing, China, is a social media giant focused on serving the world’s most populous country through mobile connectivity. The company believes that providing its subscribers with the means to socialize based on common interests, while creating and sharing videos, is an important support for society and a way to generate revenue as it underscores its services with unique database intelligence.
Social and Entertainment Media Streams
Momo Inc. delivers social media connectivity and entertainment through a diverse range of segments and activities. The company was organized in 2011, expanded internationally and, in 2014, listed on the Nasdaq Global Select Market after completing its initial public offering.
The company now wholly owns or has significant equity interest in numerous subsidiaries as part of its efforts to supply users with meaningful life engagements and build revenue through a variety of subscription live video, mobile gaming, mobile marketing and value-added services. Its primary service lines include:
- Momo: Developed from a vision of helping users create and expand social relationships based on common geographical locations and other interests relating to group affiliations, discussion topic preferences, genders and ages, Momo’s core platform utilizes a mobile application and related tools and services that the app’s users and the company’s platform partners can turn to for building interactivity strategies.
Momo’s standalone video application, Hani, features live content, its top revenue generator. The company also delivers exclusive mobile gaming services, as well as non-exclusive options. A premium emoticon service operates as a type of messaging platform. Momo also hosts “off-line” events designed to increase community engagement.
- Tantan: This dating service was acquired by Momo Inc. in 2018 after gaining a reputation as “China’s Tinder” because of its overtly youth- and female-friendly engagement features, including “masked” profiles that are gradually revealed as individuals get to know each other through stages.
- QOOL Media: Operating as a diversified radio and TV production business, QOOL obtains and maintains licensing for its artists, including music and variety show copyright, production, distribution and third-party outsourcing activities.
During 2020, China was the only major world economy to record positive growth.
Its relatively quick recovery from the ongoing global health crisis resulted in a gross domestic product that topped 100 trillion yuan (US$15.4 trillion) for the first time in 2020, representing about 17 percent of the global economy.
As young people turn to social media for safe interaction, analysts predict the artificial intelligence and machine learning technologies that are building customized “third generation social media” experiences for users will create a market that only continues to grow in the years to come.
Momo Inc. introduced a new CEO and a new executive team in 2020 as part of the company’s efforts to build new energy. Former CEO Yan Tang assumed the executive chairman responsibilities, while former COO Li Wang became the company’s CEO.