NASDAQ - Dec 16 - Alibaba-backed Chinese social media firm Momo Inc.'s IPO was an impressive one. Shares of the company surged 26% to $17.02 on December 11. The IPO was priced at $13.50. Launched in 2011 by Tang Yan, Momo is a mobile IM app that lets users post their pictures and profiles. In Chinese, Momo means unacquainted and it is sometimes referred to as China's Tinder. The app is free. But users can upgrade to get "VIP logos," advanced search and the right to follow more users for $18 a year. The app had 180M registered accounts, 60M monthly active users (MAU) and 2.3M paying subscribers at the end of Sep.
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