At present, there are many social apps on the market, but the most popular is Tencent's WeChat. According to Tencent Group's 2021 third quarter report, by the end of September, the number of WeChat monthly live accounts had reached 1.26 billion, which was almost to the point where everyone used WeChat.
Although over the years, there have been many apps with the same function as WeChat, but it has never been able to "beat" WeChat, some people say that it is because of some unique functions of WeChat, that is, "people nearby" and "shake". Such a function can be said to be the original "stranger socialization".
As soon as you hear the word "stranger social", there is inexplicably a "sense of excitement", and you can also see that this is very marketable, so there are also APP dedicated to stranger social networking on the market, and Momo is one of them.
Founded for 10 years, once brilliant
Speaking of Momo's APP, in fact, as early as 2011, it was born, and it has been established for more than 10 years, and in these 10 years, Momo has also had brilliant moments.
At the beginning, Momo was only online in the IOS system, once it was launched, it was loved by users, it was launched in August, and in November, Momo's users had exceeded 400,000, while it was hot, the Android version was officially released. By the time of the first anniversary of Momo's launch in 2012, Momo already had more than 10 million users.
It is reported that at that time, the Momo APP sent an average of more than 40 million messages per day, which shows the huge scale of users. Moreover, Momo also has a very popular function, that is, LBS geolocation service, similar to WeChat "people nearby", can communicate online with strangers who are closer.
As a result, Momo became more and more popular, and by 2014, it already had 148 million users, and it was also at the end of this year that Momo officially landed on the NASDAQ, and the highest market value once reached more than 10 billion US dollars. It can be said that in the field of stranger social networking, This achievement of Momo is completely worthy of being called the leading position in the industry.
However, how high the market value, how high the stock price, how large the user scale is actually useless, what a company really wants to get is profit.
What do you rely on to make money and wipe the edges?
As early as 2012, when Momo obtained financing, it had already said that it had a profitable business model, but judging from Momo's performance, it seems that this is not the case. According to the prospectus submitted by Momo in 2014, Momo lost as much as $23.181 million in the first three quarters.
However, after the listing, Momo's performance seems to be improving, the amount of losses began to shrink in 2015, and it began to make profits in 2016, until now, Momo claims to have achieved profitability for 22 consecutive quarters. However, from the perspective of financial reports, since 2018, Momo's net profit growth rate has been declining, and by 2020, the net profit has directly decreased.
Moreover, compared with the 148 million user scale of that year, the user scale of Momo has also been reduced to more than 110 million, which is really getting "cooler" and cooler. This also makes many people doubt Momo's business model, what does Momo want to rely on to make money, is it "wiping the edge ball"?
Known as the "Artifact of Covenant Friends"
Speaking of the matter of "wiping the edge of the ball", everyone should also know that Momo was once called a "dating artifact", which is not a good reputation. Moreover, Momo, as well as the probes who later acquired, have also been named and informed, involving nothing more than pornography transactions and pornography.
However, even if you have such "characteristics", it is not a channel for monetization, and you still can't make money. Momo seems to have realized it earlier, so it began to rectify, from the main stranger to make friends, and began to enter the live broadcast industry. But in this way, it is still impossible to save Momo.
Momo, which mainly relies on membership fees, lost paid members in the third quarter of 2021, and has been reduced for 4 consecutive quarters, and by the end of the third quarter, there are only 2.9 million left. It seems that Momo's situation is really "difficult", whether it is a "dating artifact" or live broadcast, it seems that it cannot bring profits.
Moreover, some media have said that Momo has even become a "special area for the elderly", and many users are middle-aged and elderly people who have hidden their age, and it is even more difficult to rely on this part of the group to monetize.
As of January 4, 2022, Momo's market value is only $1.771 billion, which is billions of dollars evaporated compared with the tens of billions at its peak; at the same time, Momo's stock price is only $9.18, compared with the high of $51, it has also plummeted a lot.
Now that it is 2022, Momo has not yet released the fourth quarter of last year's financial report, and we still do not know whether Momo can continue to be profitable for 23 quarters. Similarly, we don't know, in 2022, the new year, can Momo continue its former glory? Let's wait and see.
I don't know if you have used Momo's APP? What is your intuitive feeling after using it? Feel free to leave a message in the comments section.