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social pillar that drives user engagement and growth. Tantan, on the gay dating site boston other hand, has made its fame as the Tinder of China. For Tantan, the deal will give the company not just a funding boost but potentially some economies of scale in its developer backend and other areas of its business. Tantan, the rival Tinder-like online dating app acquired by Momo last month, is expected to be the companys new growth engine, according to Momo. Momo, operator of a Chinese hook-up app turned live-streaming video platform with the same name, has breached the US10 billion mark in terms of value, another beneficiary of the so-called Social business model of combining social networking in the worlds largest internet market. Specifically, the deal will indeed give Momo a big boost in its own dating business. That strong performance reflected the growth momentum from the companys live-streaming video business, which was driven by its strong content ecosystem, according to Momo chairman and chief executive Tang Yan at a conference call with analysts on May. That was up from 80 per cent share in the same period last year. (As a point of comparison, Tinder one of the leading dating apps in the West says that its enabled at least 8 billion matches since its launch in 2012.
In order to get rid.
China s social media app Momo has acquired the dating service.
Tantan for 760 m, creating a giant in the country s booming online dating.
Today, Momo, the Chinese location-based social networking app that has more recently made a big push into dating services and is traded.
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Momo has heavily invested in Chinas live streaming trend which brought them impressive 524 percent year-on-year revenue jump to USD 246.1 million in Q4 of 2016. Momo ( ) will acquire 100 percent fully diluted equity stake in Tantan ( ) for a combination of share consideration and cash, including approximately.3 million newly issued Class A ordinary shares of the Company and USD 600.9 million in cash, the company announced. We also respect Tantans product strategy that focuses on the customer experience of female users. Momos live-streaming function was introduced to bolster the apps core social networking function, which sets its apart from other live streaming platforms, according to the company. The Social model typically happens in one of two ways: Chinese companies either leverage a users current social network to grow its user base, or they start a small community of their own, attracting users to be a part of it and contribute. We are very confident in our future development. After the acquisition, the Tantan team will continue to operate the mobile apps under the Tantan brand with our full support. The company entered Chinas live-streaming market in November 2015 after spotting the shift to video as a new medium for young people to interact and share content. The app has about 6-7 million daily active users and has matched over 3-4 billion pairs of users, founder and CEO Wang Yu told TechNode in November last year. Momo and Tantan have their own strengths in their respective markets and among targeted customers, said Yu Wang, chairman and CEO of Tantan, in his own statement. Additional reporting by Jon Russell). This post comes courtesy of our content partners.