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Momo, A Flirting App With 180M Users, Is Latest Chinese Tech Firm To File For A U.S. IPO
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Riding high on this digital dating revolution are the makers of Tinder — the Match Group. Now Match Group has filed for an initial public offering. From the listed players, Chinese dating app Momo Inc., Date and Christian Mingle owner Spark Stocks Higher Amid Vaccine Hopes, U.S.-China Tensions.
It has been re-posted here with permission. People go clubbing over the weekend. They just need some help to break the wall. Users of Tantan swipe through photos of people nearby—to the left if they dislike them, to the right if they like them. When [our generation] grew up, however, there seemed to be a lack of apps that allow young people to do so.
Tantan has painted a rosy picture to help Chinese young singles to find their ideal date. It has kept away, meanwhile, from monetization until recently. Right now, if users accidentally swipe left someone that they like, there is no way of revoking the act. When asked whether Tantan will follow the footsteps of Momo, Wang admits that although live streaming is lucrative, it risks digressing from the mission of Tantan, which is to promote social activities.
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The app allows users to chat with nearby friends and strangers. Momo provides users with free instant messaging services through Wifi, 3G and 4G. Momo officially began operations in July , and one month later launched the first version of the app for iOS. In October , 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 Chengdu Momo , as a wholly owned subsidiary.
Momo, a Chinese location-based social-networking app best known for its “flirting” function, has filed for a US IPO. Backers include Alibaba.
Read Full Post…. Growing signals are emerging that an offshore IPO could be coming soon for Qudian , a financial firm that began its life as a microlender named Qufenqi helping college students to buy things like computers and smartphones. Investors can already buy into numerous Chinese banks and other financial institutions like brokerages and asset managers. Two names closely associated with e-commerce are in the headlines, led by industry leader Alibaba NYSE: BABA , which is coming under fresh assault from a coalition of US trade groups for allowing trafficking in pirated goods in its online marketplaces.
Bottom line: Many US-listed Chinese companies that have yet to complete privatization bids announced last year are likely to formally abandon the plans in the next few months, after new withdrawals from Autohome and China Information Technology. Fast food giant Yum NYSE: YUM is kicking off a publicity blitz in the run-up to the formal spin off of its China business, discussing ambitious growth targets for its biggest global market.
That includes a surprise same-store sales decline in its latest quarterly report, and unimpressive profit growth of around 15 percent. But in this case, Ant is shooting down the latest buzz that specific plans are in place for a Hong Kong IPO next year. IPOs are heating up as we head into the fourth quarter of and companies race to complete offerings before the traditionally slow period between Christmas and Chinese New Year.
Meantime, a flurry of new domestic Chinese IPO plans is also in the headlines, led by word that state-owned online news giant Xinhuanet has been approved for a new listing in Shanghai. Qudian hires CFO, investment bank Growing signals are emerging that an offshore IPO could be coming soon for Qudian , a financial firm that began its life as a microlender named Qufenqi helping college students to buy things like computers and smartphones.
ZTO dives in trading debut Two names closely associated with e-commerce are in the headlines, led by industry leader Alibaba NYSE: BABA , which is coming under fresh assault from a coalition of US trade groups for allowing trafficking in pirated goods in its online marketplaces.
Xbox One Price Cut in China
Canada Europe China ]. Local stock markets, which rose to dizzying heights over the past year, are rapidly falling back to Earth. And the Chinese government is trying to restore investors’ faith in the markets with a truly mind-boggling package of counter-measures. It has been called
Momo, whose apps use location data to allow users to interact with others in close proximity (often for flirting/dating), has filed to raise up to.
Momo Inc. Nasdaq: MOMO “Momo” or the “Company” , a leading mobile social and entertainment platform in China, today announced that it will release its unaudited financial results for the second quarter ended June 30, before U. How far off is Momo Inc. Using the most recent financial data, we’ll take a Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings.
The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the first quarter. You can find articles about an individual hedge fund’s trades on numerous financial […].
VC-backed Chinese dating app Momo files for US IPO
For the latest business news and markets data, please visit CNN Business. This is the first Chinese tech initial public offering in the U. Why all the hoopla? Momo has more than million registered users and it’s catering to the most populous nation on the planet. On top of that, Momo has some very good pals.
To the best of our ability and belief, as of the date hereof, management slashed China growth to zero Retail investors are disadvantaged because Momo does not file Spruce Point Believes That It Has Uncovered Pre-IPO Transactions That Would Suggest The app can be download inside or.
In , around 30 Chinese firms announced plans to delist from the U. Meanwhile, China’s stocks markets have been rolling out the welcome mat for Chinese companies listed overseas. Although Jumei’s management and the rest of the buyer group have not violated any rules by setting such a price, analysts said that the deal may undermine investor confidence in Chinese companies currently listed in the U.
On February 17, New York-listed Jumei International Holding announced that it has received a non-biding “going private” proposal from the company’s management and other major shareholders, adding another case to the string of Chinese firms that are rushing to leave the U. Many Chinese firms have vowed to go private over the past year or so. In , around 30 firms, including social dating app Momo and networking site renren.
But few of these cases have been as controversial as Jumei’s privatization proposal. A group of over investors of Jumei stocks have formed a group on social networking app WeChat, discussing the possibility of suing Jumei, news portal sohu.
They’re just not that into you
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Chinese Dating App Momo Gets Buyout Offer From CEO. June 25, Freeport-McMoRan’s Energy Unit Files For US$ Million IPO. June 25 Ivanhoé Cambridge Leads US$ Million Capital Drive For Chinese Developer. June
From the East we have the printing press, tea drinking, lean manufacturing and the concept of minimalist interiors. Apps that blur the line between dating and social media socializing are a trend currently happening in China. It started life as a location based flirting app but has now morphed into a wider use platform by incorporating local interest group features. Momo filed for a U. Massively addictive dating app Tinder started life as a platform for casual encounters but has now gone more mainstream.
A few retailers have already dipped their toe into the water with selling via social media. This goes beyond using the social platforms to advertise on — social selling is about selling through these platforms. Asia seems to be pushing ahead with social commerce, particularly in markets like Thailand where mobile-first consumers have a high tolerance of clunky transaction interfaces if it means they can buy directly from Facebook.
Platforms such as the hotly-tipped Shopline are forging ahead in Asia, and those in the know have suggested China could be a decade ahead of the West in terms of social commerce. Partly this is because of an overlap in China between those with the spending power and those most active on social media. Because they are so likely to create content and use content generated by others in their product evaluation, Chinese consumers are very much at the heart of the online shopping landscape.
As Nasdaq soars, Alibaba-led dot-com boom starts to fade
Alibaba , close rival JD. The company intends to list on the Nasdaq. Momo claims The three-year-old service, which clocked
This year’s been notable for Chinese tech IPOs in the U.S.. Alibaba Momo, China’s top dating app, has filed for a $ million public listing.
At first blush, a young, fast growing company backed by big names such as e-commerce colossus Alibaba and venture capital fund Sequoia sounds like a catch. But first impressions can be misleading. A match with Momo also comes with controlling in-laws. The creation of two classes of shares, one with ten times the votes of the other, gives chief executive, Yan Tang, considerable control. Investors have accepted similar risks before, from companies ranging from JD.
Should You Invest in the Match Group’s IPO?
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April 29, – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial announces it has filed confidentially for IPO; the company has said its Microsoft says Minecraft creator Markus Persson won’t be part of year by Momo last year for ~$M, is suspended from multiple app stores in China.
Make CT Your Homepage. Frank Wolf, R-Va. Harbin Aircraft Industry Group has been contracted to deliver 20 high wing twin-engine turboprop planes to a U. Less than a year after sending its “Jade Rabbit” probe to the Moon, China wants to send a “Ruby Rabbit” rover to investigate the surface of Mars. The company filed its IPO intent with the U.
The company will trade under the ticker symbol MOMO. The relatively low consumer and producer price levels indicate soft domestic demand, falling commodity prices, weak manufacturing activity and lingering overcapacity in the Chinese economy. China’s Liaoning province is deploying its first drone aircrafts to help tackle its growing smog problem, reports state news agency Xinhua. Journalists’ Day is a day for the country to appreciate and praise the hard work of journalists.
Jumei becomes latest U.S.-listed Chinese company to go private
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China’s Bitcoin mining machines manufacturer Ebang filed for U.S. IPO machine manufacturer based in Hangzhou, Zhejiang Province, is trying to raise up to $ million through an initial public offering (IPO) in the U.S.. Meet Meituan, another China’s everyday app Social dating app Momo MAU down 6% in Q1
Why it’s important : Youxin is the very first Chinese used-car online trading platform to go public. Although the market has been advancing, second-hand car e-commerce platforms still depend on financing and have not yet developed a mature profit model. Youxin has been making a loss since its establishment seven years ago. Big picture: Sales of second-hand cars are surging in China.
The volume of used cars traded in China grew from 6. By , sales of used cars in China are forecasted to reach approximately 10 million vehicles, with an annual growth rate of What : Zhaogang. Compared to the traditional steel-trading system, the e-commerce platform attempts to cut intermediaries between customers and suppliers, thus improving efficiency and reducing transaction costs.
Source: Caixin. What : Nasdaq-listed Momo Inc. What : Baidu Inc. Source: Bloomberg.