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As of December 2022, Chinese social and dating app Momo had a monthly active user base of ** million people, first time below the 100 million threshold since 2017.

From Momo Inc. to Hello Group Inc.

Launched in July 2011, Momo is a free location-based mobile social networking, dating, instant messaging and entertainment application, sometimes labeled as China’s version of the dating app Tinder. Its NASQAD IPO in 2014 raised *** million U.S. dollars through the public offer. In August 2021, the company announced changing its name from "Momo Inc." to "Hello Group Inc" and reported a ** percent drop in its annual net revenue and its net income increased to *** million U.S. dollars. Live video service is Momo’s biggest revenue source and one of the most popular app features among its younger users.

Hello Group's outlook

The popularity of online dating and matchmaking has been growing in the world's most populous country. Aiming to improve its long-term growth prospects, in March 2018, Momo Inc. acquired China’s largest dating app Tantan at that time. However, Hello Group's declining profitability and a slowing growth of monthly active users in recent few years has hinted the challenges in expanding online dating revenues.