Tencent (OTC:TCEHY) rules ChinaвЂ™s mobile messaging market with WeChat, which serves 1.15 billion month-to-month active users (MAUs). Its ecosystem of over a million вЂњmini programsвЂќ allows users to shop, purchase meals, play games, hail trips, make re payments, and much more вЂ” all without ever making the software.
Meanwhile, Momo (NASDAQ:MOMO) could be the online that is top platform in China. Its namesake software started off as a social network application|networking that is social, but gradually evolved into a platform for internet dating and real time videos.
MomoвЂ™s smaller application, Tantan, is actually a clone that is chinese of GroupвЂs Tinder. MomoвЂ™s core software had 114.1 million MAUs last quarter, and 13.4 million of them purchased gifts that are virtual signed up for premium online dating services on Momo and Tantan.
Image supply: Getty Pictures.
Those two businesses generally arenвЂ™t considered rivals, but Tencent recently launched three torpedoes at Momo: an anonymous video dating app called Maohu (вЂњCatcallвЂќ), a Tinder-like app called Qingliao (вЂњLight ChatвЂќ), and a reboot of their Pengyou (вЂњFriendsвЂќ) app as a myspace and facebook by having a dating feature that is opt-in.