TELECOMPAPER - The social network Likee, controlled by Singapore-based company Bigo Technology, part of Chinese firm Joyy Inc, plans to soon open a branch office in Russia.
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Likee Plans to Open Branch Office in Russia
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JOYY Q3 Results - Revenue up 36%, MAUs Down 4%
GLOBE NEWSWIRE - Nov 18 - Joyy is a global video-based social media platform and the parent company of YY LIVE, BIGO LIVE, Likee, HAGO and YY dating. Q3 net revenue is $926M, up 36% YOY. Net income is $339M, compared to $9.4M in Q3 2019, primarily due to the impact of gain from partial disposal of investments in Huya, a game live streaming platform. Global average mobile MAUs decreased by 4% to 390M, mainly due to the impact of Indian government's measures to block certain Chinese-owned apps, which included Bigo Live, Likee and Hago. Total number of paying users of YY decreased by 4.7% YOY to 4M, mainly due to COVID-19. Mr. David Xueling Li, Chairman and CEO of JOYY, commented, "Despite the negative impact from India blocking certain Chinese-owned apps, our global MAU remained relatively stable, thanks to rapid expansion of our business in other regions, including Europe and East Pacific." Mr. Li continued, "We believe Baidu's strategic acquisition of YY Live is a win-win for both parties, as it will accelerate YY Live's business growth and unlock more value across the domestic entertainment live streaming sector." Baidu said on Monday it is acquiring live-streaming service YY Live for $3.6B in an all-cash deal as the Chinese Internet giant makes a further push to diversify beyond its core search business and play catch-up in video entertainment.
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TikTok Rival Likee Reaches 150M Monthly Users Worldwide
TECH CRUNCH - Aug 13 - That's according to the earnings report of Chinese Internet company Joyy, the owner of Likee. For comparison, TikTok recorded ~200M daily active users in early 2020. Likee has something different to offer, as it allows influencers to easily make money from virtual gifts they receive from fans. From early July to early August, Likee accumulated 7.25M downloads, dwarfing Hollywood-backed Triller, TikTok's old rival Dubsmash and Vine's sequel Byte.
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TikTok's Top U.S. Competitor Is Also Chinese-Owned
FORBES - Aug 5 - President Trump wants to ban TikTok in the U.S., but he'll consider allowing a U.S. company to purchase it. As long as, in a novel twist, the U.S. government gets a cut. Meanwhile, U.S.-owned Triller is positioning itself as the biggest beneficiary to India's TikTok ban, with 40M new installs. "If TikTok gets banned in the US, Triller, Byte, or Dubsmash may take over as the preferred short-form video social networking app," says app analytics firm Apptopia's Adam Blacker. "Though neither of those is the current leader in the clubhouse as the top competitor to TikTok in the world. Instead, Tiktok's current top competitor is Likee." In the past six months, Likee has more than twice as many app installs in the U.S. as the next leading contender, Triller. And yes, Likee is owned by a China-based company.
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