Survive another giant case, Momo apply for IPO financing of $300 million

(word/qing nan)

after the YY, domestic added a big social system in tencent survive and will commit to listed companies, this is Momo.

this morning, the domestic main stranger social application service provider Momo submitted to the SEC IPO application, listed on the nasdaq stock exchange, the highest $300 million of financing, stock trading code for MOMO. Underwriters, including Morgan Stanley and credit suisse securities (USA), inc., j.p. Morgan securities company, China Renaissance capital.

Momo said financing will be mainly used for the research and development costs, enhance the company’s existing technical infrastructure and the other will be used to expand sales and marketing operations, as well as other mergers and acquisitions will help the company business and investment.

Momo company was founded in March 2011 by former editor-in-chief of netease Tang Yan created, main product “Momo” is a location-based mobile social networking tools, can pass Momo know nearby people, free messaging, voice, picture and geographical position and the people around. In addition you can also create near and near to join interest groups, message and activity and Momo, enrich their social circle. Products in that year, launched in August, from April 2012 to May 2012 were experienced four rounds of financing, the investor respectively by warp/weft, alibaba, DST, etc.

message message is the most important competitors tencent’s micro letter, now, micro letter global users active users has reached 438 million. Communicate with micro letter main familiar friend is slightly different, devoted to devoted to main the stranger dating from the start, also is referred to as the “gun” tool industry. Nowadays, communication between friends also occupies the important proportion. Now devoted to devoted to submit an application for IPO, away from the successful listing only last a ride, thrived in tencent’s social system, is not easy.

Ownership structure:

the prospectus disclosure, Tang Yan Momo is the biggest controlling shareholders before the IPO, accounting for 39.8%; Alibaba is the biggest institutional shareholder of Momo, accounted for 20%; Matrix partners is the second largest institutional shareholders, 19.9% of the shares.

operating data:

the prospectus disclosure, as of September 30, 2014, devoted to devoted to total $180.3 million registered users, year-on-year growth of 160.8%; 60.2 million monthly active users, year-on-year growth of 112.8%, average daily active users, 25.5 million, up 140.6% from a year earlier.

Momo users has been established based on the different geographical location and interest groups, 4.5 million, in September 2014, on the active group was 2 million.

in September 2014, each day live on average user log in 20 times a day, a day on average hours used for 34 minutes.

in September 2014, “the stranger stranger” daily postings to 2.7 million;


in the second half of 2013, Momo begin commercial attempt, current income of $3.1 million. In the first half of 2014 revenue of $13.9 million.

Momo current income is mainly divided into three parts, user membership fees, games, income and other services (including mobile marketing, paid expression, etc.), the income of $2.8 million in the second half of 2013 membership fees, membership fees earned 8.74 million dollars in the first half of 2014, as of September 30, 2014, a total of 2.3 million members.

in the second half of 2013, Momo mobile gaming revenue was $92000, mobile gaming revenues in the first half of 2014 to $4.438 million.

mobile game subscribers growth in the fourth quarter of 35000 people from 2013 to 2014 in the second quarter of 139000 people.

financial situation:

in the first half of 2012, 2013, 2013 Momo are a net loss of $3.8 million, $9.3 million, $8.3 million.

stranger stranger before commercial spending include manpower, server and office costs. As of June 30, 2014, has carried on the massive Momo brand advertising, Momo sales and marketing costs of $9.07 million. Costs and expenses of the company a combined $22.33 million, including revenue costs $6.03 million, r&d expenditure of $2.89 million, spending $9.07 million for sales and marketing, the administrative expenditure of $4.33 million.

as of June 30, 2014 Momo hold $176 million in cash and cash equivalents.

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