BLOOMBERG - July 17 - For 4 years, China's Momo bumbled along as yet another dating app. Similar to Tinder, Momo let users find people nearby and make a choice whether to pass or play. It wasn't a bad business. But it wasn't a good one. While sales grew at triple-digit %, Momo's 2014 full-year loss tripled to $25.4M. The company managed to hit a profit only in the Q1 2015. Momo net income wasn't too enticing while it bumbled along as a dating-app maker. The turnaround came when chairman, CEO and co-founder Yan Tang discovered video. At first, in Q1 2015, he allowed pre-selected performers to broadcast live concerts. Then in March and April 2016 he launched a broadcast app call Hani and opened up live video to everyone. Momo revenue exploded. From $15.6M in sales for the March quarter last year, live video rocketed to $57.9M three months later - accounting for 58% of total revenue. Last quarter that figure stood at ~$213M, helping the company post ~$81M in net income. Harvard Management Co., which oversees the university's $35.7B endowment, took note and bought 214,350 shares in the Q1 of this year - making it the fund's fifth-largest holding. Based on the stock's quarter-end price of $34, the fund has already netted a 21% return.