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In OctoberTang was named by Fortune Magazine as one of its "40 Under 40," a list of the most powerful business elites under the age of Chengdu Momoas a wholly owned subsidiary. InApp Annie reported that Momo was the number 2 non-game app of in terms of revenue. Momo executives also claimed they had reached 40 million monthly active users MAU.
In the months of August and SeptemberMomo had China Renaissance Partners acted as the exclusive financial advisor. It enables users to establish and expand their social relationships based on similar locations and interests. Momo execs claim that this allows their software to create more accurate matches with nearby strangers.
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Momo prides itself on sifting through the clutter of mobile Internet users to find personalized matches for its users. Third parties develop games, and revenues from in-game purchases are shared between Momo and the developers.
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Members can see the businesses just as they would see other Momo users. However, Sina Corp did not give its formal response.
Statement made by NetEase[ edit ] On December 10,NetEase released a statement accusing that Tang Yan has professional ethic issues, business ethics issues, and has been detained due to personal affairs by the local police in