Tantan and Momo, the two most famous and important app in China for meetings, are married to each other. Momo, in fact, acquired a 100% stake in Tantan, against some equity and liquidity considerations, including approximately 5.3 million Class A shares, issued by the company.
Despite this marriage, the two apps will continue to operate independently of each other, at least for the time being. It is not known whether there will be new or particular market strategies deriving from this union, which should be completed in the second quarter of 2018.
Over the years Momo has managed to climb the rankings, becoming the app for leading meetings in China; But that is not all. In fact, that of Tantan is the first big buy after the listing on the US stock exchange, demonstrating the solidity of the company itself. After all, the dizzying numbers confirm record sales of 524% in the live streaming sector in China.
But Momo’s strength lies in knowing how to diversify its aims. In fact, during the last year, the app has always integrated new features, from one-on-one or group streaming, to the creation of Werewolf, one of the most popular party in China.
Tantan, in fact, has reached the record number of 6/7 million active users in a single day, coming to meet and create 3/4 billion pairs, as confirmed by the founder and CEO Wang Yu. Because of this great success, the app is planning to add some paid subscriptions.
In June 2017, Tantan raised $ 70 million in a Series D funding round, bringing the start-up total fund to $ 120 million.