FORTUNE - Nov 3 - Tang Yan started a Chinese social network called Momo that now has 60M monthly active users. He spent eight years at the news site of 163.com, one of China’s top Internet portals, eventually running it, before getting the idea for Momo when location apps like Foursquare were gaining popularity. Momo has become one of the most popular apps in China, and is planning an IPO that values the company at $3B. Momo brings in cash from some paid add-on features, and is exploring new business models, such as running ads from close-by restaurants and small businesses.
by Scott Cendrowski
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