PRESS RELEASE - Aug 27 - Net revenues increased by 32% YOY to RMB4,152.6M ($605M) in the Q2'19. Net income slightly decreased to RMB731.8M ($106.6M). Monthly Active Users on Momo app were 113.5M in June 2019, compared to 108M in June 2018. Total paying users of the company's live video service and value-added service, including 3.2M paying users of Tantan, were 11.8M, up from 11.6M in Q2'18.
SEEKING ALPHA - July 24 - On April 29, dating app Tantan was removed from app stores in China at the direction of government authorities. After a 10-week hiatus, the app is available again on Chinese app stores. Less than 24 hours after being back online, the app roared to the top of the grossing ranks in China. Momo shares were trading ~$36 before the announcement of the suspension of Tantan. The share price fell ~25% over the course of May. Now shares have rallied back up, close to their price pre-suspension.
THAT'S - July 3 - Dating app Tantan has been relaunched on Chinese Android app stores after going through a 'rehabilitation period' since the end of April. The app is still not available via the Chinese version of the Apple App Store. Tantan previously stated that the app had been taken off because of violations of regulations and that they would be taking a period of time to undergo "self-examination and self-correction."
THE MOTLEY FOOL - May 29 - Momo, the owner of two top dating apps in China, shed 30% of its value over the past 12 months as investors fled Chinese tech stocks amid the escalating trade war. It was also hit by a triple whammy of bad news over the past month - regulators ordered the removal of its Tantan app from Chinese app stores, Apple suspended in-app payments for Tantan, and the company voluntarily suspended news feed posts in both Momo and Tantan for an internal review. Momo's revenue rose 35% annually to $555M in the first quarter, beating estimates by $23M. Its monthly active users on Momo and Tantan increased 11% to 114.4M, while its paid users on both apps jumped 73% to 14M. Those growth rates look solid, but Momo's growth in revenue and MAUs decelerated significantly over the past year. Momo expects its revenue to rise 27% to 30% annually during the second quarter. That forecast is encouraging, since it indicates that Momo can still squeeze out revenue from its namesake app's existing users. It also suggests that Momo could easily beat its own guidance if its services are fully restored during the quarter.
PR NEWSWIRE - May 28 - Net revenues increased 35% YOY to RMB3,722.9M ($554.7M) in the Q1 of 2019. Net income attributable to Momo decreased to RMB289.3M ($43.1M) from RMB825.2M in the same period of 2018. Monthly Active Users on Momo app were 114.4M in March 2019, compared to 103M in March 2018. Total paying users of live video service and value-added service, including 5M paying users of Tantan, were 14M, up from 8.1M in Q1 2018. Live video service revenues were RMB2,689.4M ($400M), up 14% YOY. The growth in live video revenues was contributed by the increase in quarterly paying users, as well as the increase in average revenues per paying user per quarter.
TECHNODE - May 13 - Shares of dating app company Momo fell on Friday after announcing it would temporarily shut down the social newsfeed on its platform for a month amid tightening government scrutiny. Momo users are restricted from posting on the newsfeed until June 11. Dating app, Tantan, made a parallel announcement on Friday night, saying its social feature, "Moments," would be suspended for a month as it is conducts a comprehensive investigation and works to enhance its screening capabilities. The incident follows Tantan's removal from major Chinese Android app stores in late April. Tantan responded by saying the removal was due to the "violations" of relevant rules and it had launched a total investigation on the platform. It remains unknown when Tantan will be available on app stores again. Momo had acquired Tantan in a $600M buyout in February 2018.
QUARTZ - May 9 - Tantan, China's favourite dating app, is now the fifth-most popular in India by combined monthly active users on iOS and Android phones, according to App Annie. In May 2018, Tantan did not feature among the top 10, but zoomed to the 4th position by July. It has since slid one spot following the launch of Bumble in December.
Top dating apps in India
(as on May 2018) (as on March 2019)
1. Tinder 1. Tinder
2. Happn 2. Happn
3. Azar 3. Azar
4. Badoo 4. Bumble
5. OkCupid 5. Tantan
Tantan translates in Mandarin to "talk." Launched in 2014, the app bears a high resemblance to Tinder, and was acquired by the Chinese social network Momo in February 2018. Tantan has ~90M registered users in China. The dating app has been advertising aggressively on TikTok.
TECHNODE - Apr 29 - Chinese dating app Tantan has been taken down from major Android app stores. As of Monday morning it was still available on Apple's App Store as well as on smartphone brand Xiaomi's Mi Store. Tantan stated that the takedown was due to "violations," and that the company would work to rectify the issues. In February 2018, Tantan was acquired by its larger competitor Momo in a $600M buyout.
SEEKING ALPHA - Mar 15 - Momo is a mobile platform in China. It consists of the main Momo app, which combines live video streaming, chatting, gaming and TanTan, the Tinder of China. On Tuesday, March 12, Momo jumped 12% after it had released its Q4 and FY 2018 earnings before the market opened. Momo has beaten expectations every single time since its IPO in 2015. Momo is hugely profitable. And without Tantan's financial impact, the profitability would even have been higher. Momo invested heavily in 2018. With an extra 57% spending, a lot of companies would see their bottom line wither. But not Momo. Tang Yan, Momo's founder-CEO, was righteously very proud of the bottom line margins, which grew despite the very heavy investments. Because of that huge profitability, Momo is able to give a present to its shareholders: a special dividend. The special cash dividend is $0.62 per ADS, a 1.64% one-time yield at the current price ($37.76 at the moment of writing). The total amount of cash dividends the company will have to pay will be ~$128M. Tantan has still less users than Tinder. The dating app started the monetization only in Q1 2018: in January it started its VIP service. Then later, in July, it added two extra paying services: A See Who Likes Me stream and Super Exposure. With these three services, TanTan already has 3.9M paying subscribers which is already 90% of Tinder's number of subscribers. In Q4, TanTan's total revenue was $33M up 36% QoQ. While this is only a small number, I think the Chinese dating market could still be in its infancy and I expect it to grow for at least a decade.
KR ASIA - Mar 14 - The founder and CEO of Chinese location-based social app Momo, Tang Yan, said the company will pursue opportunities in overseas markets for its dating app Tantan. Momo acquired Tantan last May in a $735M cash and stock swap deal. Tantan is one of the top ten social apps on Android in Nepal, Singapore, Indonesia, and the Philippines, with ~10M installs. Tantan had 3.9M paying users in the Q4 2018.
by Song Jingli
See full article at KrASIA
CRUNCHBASE - Feb 14 - In 2018, venture investors put $127M globally into 27 dating-focused startups. It's certainly tiny compared to the ~$300B in global venture investment across all sectors last year. While the US is home to the majority of funded startups in the dating category, the bulk of investment has gone to China. In 2018, ~80% of dating-related investment went to a single company - Blued, a Grindr-style hookup app for gay men. In 2017, the bulk of capital went to Chinese mobile dating app Tantan, and in 2014, Beijing-based matchmaking site Baihe raised ~$250M. Meanwhile, in the U.S, we are seeing an assortment of startups raising smaller rounds.
SEEKING APLHA - Jan 3 - Momo has more than halved since hitting its 52 week high but is it undervalued or did the market simply became rational with regards to this growth stock? Momo is one of China's leading mobile-based social and entertainment platforms that include a live-streaming platform and online dating platforms. The acquisition of Tantan (China's Tinder) earlier in 2018 has driven Momo's value-add service revenues. Tantan has only just begun to monetise its user base in January 2018 and during that short span of time, its paying user base has grown to 3.6M. It has 94M MAUs. The management has high hopes for Tantan due to the 300M millennials in China and the higher mobile penetration rates, particularly among millennials. Furthermore, Tantan's popularity has not been limited to China. According to App Annie, Tantan is among the top 10 social apps on Android in other Asian countries such as Singapore, Indonesia, Philippines, Nepal and Taiwan. Overall it seems that Momo is an undervalued company where the market has incorrectly assessed its future as fears regarding competition from short-video platforms.
SMARTER ANALYST - Dec 19 - Chinese social media company Momo had seen its stock surge ~100% between January and the end of June, before plummeting over the past few months to a 52-week low. The growth has been decelerating; while revenue grew by 64% YOY in Q1 '18, growth decelerated to 58% in Q2 '18 and then 51% in Q3 '18. However, even with decelerating growth, Nomura analyst Jialong Shi is bullish on MOMO stock, maintaining his Buy rating and $41 price target. Momo's flagship service is Tantan, a dating app similar to Tinder.