SEEKING ALPHA - June 11 - Momo believes its underperforming Tantan app could grow strongly following a major overhaul now in the works. Tang Yan's move from the CEO's office was just the beginning of a bigger shakeup. That shakeup claimed new victims in April with the departure of the CEO and COO of the Tantan app that Momo acquired for $760M in 2018. Momo's current CEO Wang Li, formerly Momo's longtime COO, confirmed the changes at the top of Tantan on the company's action-packed investor call following the release of its quarterly earnings this week. Investors seemed to welcome the news, with Momo’s shares up 10% since the announcement of the company's latest quarterly results. The company's revenue fell 3.4% to $543M in the Q1, and Momo said it expects another decline of ~5% in the current quarter. Both of those figures do represent an improvement from the 12% revenue decline from last year, including a 19% drop in the Q4. Q1 profit was similarly uninspired, falling 14%.
79 posts categorized "Tantan"
Momo Looks for Excitement With Tantan Overhaul
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Momo Q1 Financial Results
MOMO - June 9 - Q1 2021 net revenues decreased by 3.4% YOY to RMB3,470.6M ($529.7M). Net income attributable to Momo decreased to RMB461.7M ($70.5M) from RMB538.9M in the same period of 2020. Monthly Active Users on Momo app were 115.3M in March 2021, compared to 108M in March 2020. Total paying users of our live video service and value-added service, including 3.5 million paying users of Tantan, were 12.6M for the Q1 of 2021, compared to 12.8M for the Q1 of 2020, which included 4.2M paying users of Tantan.
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Dating Apps Revolutionize Romance in India
NIKKEI ASIA - May 5 - Dozens of apps -- other big names include Woo, TrulyMadly, OkCupid, Happn, Hinge, Tantan, QuackQuack and HiHi -- are helping singles to pair up with partners of their choice. According to Statista.com, the online dating segment's turnover in India is expected to reach $783M by 2024 from $454M in 2021, making the country the second-largest national revenue generator for dating apps after the U.S. Currently, dating apps reach 2.2% of India's total population, with projections of 3.6% by 2024, according to industry surveys. Aisle achieved 3M downloads worldwide last year despite competition from Tinder and Bumble. QuackQuack, an Indian dating app launched in 2010, boasts 12M. TrulyMadly, another Indian app, claims 5M users. "Indian society is in a churn," says Delhi-based sociologist Bhavna Kapoor. "Rising education and financial independence among the youth, especially women, are making online dating more popular.
by Neeta Lal
See full article at Nikkei Asia
See the top news on Aisle See the top news on Tinder
See the top news on Bumble See the top news on QuackQuack
See the top news on TrulyMadly
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Momo Could Buy Back Itself in Under 6 Years
SEEKINGALPHA - Apr 20 - Momo's fair market value could be ~250% above the current market price. The company's dating business is poised for growth post-Covid. A reduction in ad costs should allow Momo to grow without sacrificing profit margins. Dating, a significant part of momo's business fell as people quarantined until the pandemic started to come under control in May of 2020. Momo paid ~$800M for TanTan in 2018. Beyond TanTan, Momo's business segments consist of live streaming, value-added services (virtual gift giving & paid subscriptions), marketing, and gaming. The combined valuation estimate for dating, live-streaming, and VAS is $4.6B.
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Momo's Q4 and 2020 Financial Results, Revenue Impacted by Covid-19
MOMO - Mar 25 - Q4 2020 net revenues decreased by 19% YOY to RMB3,795.2M ($581.6M). Net income decreased to RMB651M ($99.8M) from RMB1,055.9 in the same period of 2019. Monthly Active Users on Momo apps were 113.8M in Dec 2020, compared to 114.5M in Dec 2019. Total paying users, including 3.8M paying users of Tantan, were 12.8M, compared to 13.8M in Q4 2019. Full Year 2020 revenues decreased by 11.7% YOY to RMB15,024.2M ($2.3B). Net income was RMB2,103.5M ($322.4M), compared with RMB2,970.9M during the same period of 2019.
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Chinese Women in Big Cities Prefer Online Dating
WOMENOFCHINA - Mar 11 - According to Tantan's recent survey of 4K women in Beijing, Shanghai, Guangzhou and Shenzhen, dating apps have become an essential social tool for single women in metropolitan areas. The higher a woman earns, the more active she is in online dating. 40% used Tantan to become acquainted with their dates, 15% were in love more than once via Tantan, and 42% used Tantan to make friends.
by Xu Lin
See full article at WomenofChina
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Tantan Evolves From Dating App to Social+
POJOK BANDUNG - Dec 25 - Tantan, the Chinese dating app, is planning to pivot from its dating app status to a social platform to reach a new generation of users. With the Social+ strategy, users will experience new features such as Social+ Live Streaming and Mobile Games.
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Momo's Q3 Results: Revenue Down 15%, Net Income Down 50%
PR NEWSWIRE - Dec 1 - Q3 net revenues decreased by 15.4% YOY to RMB3,767M ($555M). Net income attributable to Momo decreased ~50% to RMB457M ($67M). Monthly Active Users on Momo apps were 113.6M in September 2020, compared to 114.1M in September 2019. Total paying users of live video service and value-added service, including 4.1M paying users of Tantan, were 13M, compared to 13.4M last year's Q3, which included 4.5M paying users of Tantan. Live video service revenues were $350M, down 27% YOY.
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Top Grossing Dating Apps Worldwide for June 2020
SENSORTOWER - July 30 - The top grossing dating app worldwide for June 2020 was Tinder with $64.8M in user spending. ~41% of Tinder's revenue was from the US, followed by 6% from the UK and 6% from Germany. Bumble was the second highest earning dating app worldwide with more $16.5M in gross revenue. ~76% of Bumble's revenue was from the U.S., followed by 7% from the UK. The next top grossing app was Pairs, followed by MeetMe and Tantan.
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Top Grossing Dating Apps Worldwide for May 2020
SENSORTOWER - July 3 - The top grossing dating app worldwide for May 2020 was Tinder with ~$65.3M in user spending. ~41.5% of Tinder's revenue was from the U.S, followed by 5.6% from UK and 5.4% from Japan. Bumble was the second highest earning dating app worldwide for May 2020 with close to $16M in gross revenue. The next top grossing app was Pairs, followed by MeetMe and Tantan.
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Momo's Q1 Financial Results: Revenue Down 3.5%, Net Income Up
MOMO - May 28 - Q1 revenue decreased by 3.5% YOY to RMB3,594.1M ($507.6M). Net income attributable to Momo increased to RMB 539M ($76.1M) in Q1 2020 from RMB 289M in the same period of 2019. Monthly Active Users on Momo app were 108M in March 2020, compared to 114.4M in March 2019. Total paying users of live video service and value-added service, including 4.2M paying users of Tantan, were 12.8M for the Q1 of 2020, compared to 14M in Q2 of 2019. "Q1 2020 was a challenging and yet very fruitful quarter for Momo," commented Yan Tang, Chairman and CEO of Momo.
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Top Dating Apps in China During Coronavirus Pandemic
SCMP.COM - May 1 - The nine largest dating apps by China iOS app store ranking are Yidui, Tantan, Momo, Soul, Yimu, Zhenai, Hezi, Blued and Rela. ~622M people used dating apps in China last year, and the market is set to hit $290M in revenues by 2024, according to Statista.com.
- Yidui
Video-based speed matchmaking app, targeting singles in lower-tier cities, it later introduced a professional matchmaker in the app and added a live-streaming feature to speed up matches - Tantan
China's Tinder clone, launched in June 2014, raised ~$120M. In 2018, the company was acquired by Momo - Momo
Launched in 2011, evolved from a simple location-based dating app to a general social platform that, in addition to its original features, also includes group chats, live-streaming, short-video, and casual games. The company went public on Nasdaq in Dec 2014. - Soul
Launched in 2015, it matches users based on a personality test, targeting young users. Soul has closed a Series C round of an undisclosed sum last year. - Jimu
Released in late 2016, the app melds features of dating apps with youth social networking functions, targeting urban residents who like art, fashion, and music. The company raised "tens of millions of yuan" in June last year from a Series B round led by Bluerun Ventures and Sequoia Capital. In July 2019, Hong Kong-listed Chinese live-streaming firm Inke bought Jimu for $85M. - Zhenai
Founded as early as 2005, is one of the oldest and well-known matchmaking websites in China, which also offers offline services. Zhenai has made several updates to its app in a bid to reach younger users as well, adding features including personal assessments, live-streaming, and a status-posting section. - Hezi
Voice-based social app Hezi was launched at the beginning of 2019, founded by two senior executives from Momo. - Blued
Launched in 2012 by the Chinese LGBTQ community website Danlan, Blued is the top gay dating app in China. The company has raised ~$130 M. - Rela
Founded in 2012, the first location-based dating app for lesbians in China.
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Dating Apps Prove Popular in China During Covid-19 Outbreak
CHINA DAILY - Apr 17 - Industry experts said the "cloud matchmaking" method, which includes livestreaming and short videos, is gaining traction among singles. According to Tantan, the average time people spent on the app in early- and mid-February increased by ~30%. The number of users surged 60% during the peak hour which often runs from midnight to 1am. During the outbreak, those born after the period around 1995 and after 2000 have become the top users of Tantan. They recorded a 20% increase in messages sent and daily matches. Zhenai.com said its active users reached 10M during the Chinese New Year holiday on Jan 24 to Feb 2, an increase of 39% compared with the same period of last year. ~10K people found highly compatible matches on the app. Baihe Jiayuan Network Group's CEO Wu Linguang said video and livestreaming dating services have been launched to lure customers during the epidemic. The time users spend on video dating rose 30% during the Spring Festival holiday YOY.
See the top news on Tantan See the top news on Baihe
See the top news on Zhenai See the top news on Jiayuan
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Dating Apps in China Are Extremely Popular Due to Shy Culture
CGTN - Mar 1 - Wang Yu is CEO of one of China's largest dating apps - Tantan. Due to China having a shy culture, he says, his dating app has been hugely successful in providing an alternative channel through which people can meet. Traditionally in China it's the parents and grandparents of young singles who find their offspring suitable partners, especially if they are unmarried and approaching 30. He also reveals how the company has denied ~100M registration attempts due to the staff being unable to verify if the person creating the profile is who they claim to be. Watch the full video interview here.
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How Tantan Leveraged Valentine's Day to Gain Female User Base
FINANCIAL EXPRESS - Feb 19 - Dating app Tantan claims to have recorded a reach of ~2.5M through a strategic and focused influencer marketing campaign #VDayonTantan. The idea behind the campaign was to increase awareness regarding the app amongst women. ~45 influencers on Instagram and TikTok came together for the umbrella campaign #VDayOnTantan, #MyManOnTantan by the female influencers and #YourManOnTantan by the male influencers.
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