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That’s an impressive comeback considering the company began seeing stagnant active user growth in H2 2015.Momo previously said slowing smartphone sales and a lack of software updates were the reason for the stagnation, but its focus on new business areas — and particularly live streaming — have helped reinvent the company and its app among Chinese users.Momo’s mobile gaming unit has been growing quickly thanks to several big titles like hard-core game Momo Craft and Momo Fight the Landlord.Momo doubled down on this in 2016 as it retreated from a previous joint venture on game publishing in favor of in-house development.Like many other social networking services in China, live streaming was the significant boost for its business, generating 4.8 million revenue during Q4 alone.
In 2017, we plan to expand the user acquisition effort beyond the Momo platform,” said company CEO Tang Yan in the earnings conference call.Momo, China’s top location-based social networking app, has continued its impressive user growth from last year and added solid financial figures to back it up, according to its most recent earnings report.The company, which was previously backed by Alibaba, went public when it listed on Nasdaq in December 2014.With a commitment to connecting Kenyan singles worldwide, we bring Kenya to you.
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Momo’s live video streaming business adopted a similar commercialization model in which the platform enables viewers to buy virtual gifts for singers, with the revenue split between the broadcaster and Momo.