Very Social Network

Newborn Town: Chinese App Factory Expands Globally With Social Media and Dating Apps

SCMP - Newborn Town, a Chinese app factory, is making strides in the Southeast Asian market by developing multiple social media and dating apps. Despite increasing political scrutiny, Newborn Town has managed to embed its smaller apps into user lifestyles across various regions. The company is now expanding its focus to more mature markets like the US and Japan. The company owns a range of social media apps and has reported strong revenue growth.

by Tracy Qu
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Newborn Town to Acquire BlueCity

PR NEWSWIRE - Newborn Town has signed an agreement with Spriver to acquire Chizicheng Strategy Investment, a subsidiary of Spriver. This acquisition will make Newborn Town the controlling shareholder of BlueCity, which is owned by Chizicheng Strategy Investment. Upon completion of the acquisition, Newborn Town will consolidate the financial statements of BlueCity into its own financial statements. BlueCity is a leading player in the LGBTQ social vertical, with its flagship Blued app as the second-largest LGBTQ platform globally in terms of active users while holding the leading position in terms of users in several Asian countries and regions. Newborn Town is a company with diversified social networking services based in Hong Kong, listed on the Hong Kong Stock Exchange. The company was founded in 2013 and provides various social networking services such as live streaming, interactive entertainment, and audio services. Newborn Town has a global footprint and operates in key markets, including Japan, Korea, North America, Southeast Asia, and the Middle East.

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Newborn Town Announces 2022 Annual Results

PR NEWSWIRE - Newborn Town announced its 2022 annual results, reporting a YoY revenue increase of 18.6%, reaching RMB 2.8B. The revenues reached RMB 2.5B and RMB 242M, respectively. The company also reported a significant increase in profit, with a YoY increase of 174.2% to RMB 287M, and profit attributable to the company's owners increased by 145.5% YoY to RMB 130M. The average MAUs of its social apps increased 20.0% YoY to 22.91M. The company has also acquired BlueCity, a leading social networking company in the LGBTQ field, and is looking to expand its presence in the overseas market. The company aims to cultivate a second growth curve through the development of niche and casual games.

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NewbornTown 2022 Results With Steady Growth With Localized Operations

PR NEWSWIRE - On Jan 17, the Hong Kong-listed company NewbornTown released the unaudited operating figures for 2022. The Company's total revenue is expected to reach ~RMB 2,770M to 2,830M, achieving the growth target. The average MAUs of the Company's social products reached ~22.91M, up ~20% YoY, and the social networking business revenue is expected to reach ~RMB 2,540M to 2,570M, up ~20% YoY. Focusing on global users' needs, NewbornTown continued to build diversified social products in each market with strengthened localized operations.

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Newborn Town Grows 36% YoY of the Business Revenue in Q3 of 2022

TECHNODE GLOBAL - Newborn Town, a global social networking company, announced its unaudited operating figures for Q3 of 2022. The Company's revenue is expected to reach ~$290M in the Q3, up ~25% YoY. Among that, revenue from the social networking business is expected to reach RMB 1.91B to 1.94B, an increase of ~36% compared with the same period in 2021.

See full article at Technode

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Newborn Town Releases Its 2022 Interim Results

PR NEWSWIRE - Newborn Town released its 2022 interim results. For the six months ended Jun 30, the Company's total revenue reached RMB 1,374M, up 32.3% YoY; adjusted EBITDA reached RMB 210M, up 19.5% YoY; profit attributable to the owner of the Company reached RMB 83M, up 121.3% YoY.

See full article at Technode Global

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Newborn Town Releases Its Positive Profit Alert of H1 2022

PR NEWSWIRE - Newborn Town, a company focusing on global social networking markets, released its H1 2022 positive profit alert. The Company expects to record a revenue of RMB 1.35B to 1.4B by the end of the H1 of the year, up ~30% yearly. Its net profit will approximate RMB 145M to 165M, representing a YoY growth of 5% to 20%, while adjusted EBITDA is expected at RMB 200M to 220M, achieving a YoY increase of 14% to 25%. Its net profit attributable to the parent company is expected to reach RMB 75M to 95M, 103% to 157% higher, more than doubling when compared with H1 2021.

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Newborn Town to Finish Privatizing BlueCity

PANDAILY - The privatization of LGBTQ platform BlueCity is nearing completion. It will be controlled by Metaclass Management, a fund owned by Chinese social networking product developer Newborn Town. The buyer group includes Metaclass Management, BlueCity's founder Ma Baoli, and CDH Investment. According to the agreement, BlueCity will be acquired for $3.20/share and the transaction valuation is $60M. BlueCity's operating income in 2021 was $169M.

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Newborn Town Releases H1 2022 Operating Figures, Showing YoY Revenue Growth of 30%

PR NEWSWIRE - Jul 22 Newborn Town, a global social networking company, announced its unaudited operating figures for H1 2022. The Company's revenue is expected to reach RMB 1,350 to 1,400 million, a YoY growth of ~30%. Newborn Town has a social networking product matrix that includes Yumy, MICO, and YoHo. In H1 2022, the Company has made progress in both "market expansion" and "commercial efficiency enhancement" of its social networking business.

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Newborn Town Sees 65% Growth in Revenue

PR NEWSWIRE - Newborn Town announced its unaudited operating figures for 2022 Q1. The revenue is expected to reach RMB 625M-65 in Q1, up ~65% YoY. The MAUs of their products averaged at ~22.27M, up ~7% from 2021 Q4. The cumulative downloads of their products reached 386M as of Mar 31, up 12% from Dec 31. The Company has been improving the functions of its social networking products, deepening its localized operations worldwide, and enriching its content ecology.

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NewBorn Town Inc. Announced 2021 Annual Results

PR NEWSWIRE - Newborn Town Inc., the flagship Chinese social networking company going global, announces its audited consolidated results of the company and its subsidiaries, the "Group," for the end of 2021. The Group's social products received ~344M downloads. The number of MAUs hit a record-breaking 21.79M in December. Total revenue grew by 99.7% YoY during the year to reach RMB2,359.8M. Revenue from value-added services grew by 213.7% YoY, reaching RMB2,062.4M, and continued to be the largest revenue contributor (87.4%).

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Newborn Town Unveils World's First Video Social Networking Digital Collectibles

PR NEWSWIRE - On Mar 10, Newborn Town, a global social networking company, held the Social3.0 Metaverse Ecology Conference. The company's CEO Li Ping shared Newborn Town's panoramic layout and vision in metaverse and announced the release of the world's first video social networking digital collectibles, YUMY QUEEN 2021 NFTs, launched by a user community called YUMY QUEEN DAO in Yumy. YUMY QUEEN 2021 NFTs is a collection of social networking digital collectibles derived from badges of honor corresponding to the Top 100 female influencers on Yumy in 2021.

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Newborn Town Inc.'s $44.5M Top-Up Placing of New Shares

GLOBAL LEGAL CHRONICLE - Newborn Town Inc. completed a $44.5M top-up placing new shares on the Stock Exchange of Hong Kong. Newborn Town Inc. focuses on the global open social networking sector and emerging modes in social networking. The placement comprises 92M new shares for HK$3.80 per share. These shares account for ~8.41% of Newborn Town's existing issued share capital and ~7.75% of the issued share capital as increased by the placement.

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Newborn Town Social Network Brings New Opportunities for Women Globally

PR NEWSWIRE - Mobile app company Newborn Town brings new social experiences with its social networking platforms MICO and YoHo, especially in the Middle East. MICO is the top 1 best-selling app on Google Play in 12 countries and one of the Top 10 best-selling social apps in 90 countries/regions, a social entertainment platform with many other social features like party rooms and communities. YoHo, the second most popular audio social network in the Middle East, connects millions of users through its voice chat rooms. With an outsized impact on the region, the company measures its success not just by followers, but by positive impact, especially for women.

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Newborn Town Announces 2021 Interim Results, Appoints Li Ping as CEO

YAHOO FINANCE - Sep 1 - Newborn Town, the largest social networking company going global in China, reported its 1H total revenue reached $160.7M, representing a ~6-fold YoY growth rate. Newborn Town also announced that former President Li Ping had been appointed CEO. Newborn Town Chairman Liu Chunhe will focus on the company's strategies, organizational construction, and social value.

See full article at Yahoo Finance