WANTCHINATIMES - June 26 - Momo, a Chinese dating app, has decided to delist from NASDAQ, just after half a year of trading on the marketplace. This comes despite the fact it will waste its investments in the share listing, including $110M of tangible cost. The cost includes $17.4M of commission paid to underwriters and $4.3M in consulting fees, not to mention the annual fee charged by NASDAQ which amounts to $1.61-1.76M a year, compared with the $308.4M in fresh fund it raised from its IPO. "We intend to keep Momo as a startup, rather than a public company," said Tang Yian, founder and CEO of Momo, adding that going public would hamper the company's capability to take risks for new ventures.
The full article was originally published at WantChinaTimes, but is no longer available.
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