Momo (software)

Momo is a Beijing, China-based company founded in July of 2011 by Lu Zhiwei, Tang Yan, Zhang Sichuan, Lei Xiaoliang, and Yong Li. The company developed a social search engine and a free mobile-based instant messaging platform that allows users to start conversations with nearby friends or strangers. The company filed for its IPO in December of 2014, three and a half years after its initial launch.

Beijing Momo Technology Co., Ltd. was co-founded by Tang Yan, Zhang Sichuan, Lei Xiaoliang, Yong Li, and Li Zhiwei in July 2011. Before founding Momo, all of the co-founders served in roles at other China-based internet companies. In November of 2011, the founders developed Momo's holding company called Momo Technology Company Limited in the British Virgin Islands to develop foreign investments. In 2014 the holding company was renamed Momo Inc. and was relocated to the Cayman Islands. In May 2013, Beijing Momo developed its Chengdu Momo Technology Co., Ltd.(Chengdu Momo) as a subsidiary.

In July of 2011, Momo was officially established and launched its application's first version a month later in August of 2011. By December of 2011, four months later, the company reported it had reached a user base of over 500,000 people. Three months later, in March of 2012, Momo announced that its user base had grown to 2 million users and reached a user base of 10 million by its first launch anniversary in August of 2012.

The growth steadily continued, surpassing 15 million in October of 2012. By 2014, Momo was ranked the number two non-gaming app of 2013, in terms of its revenue, by App Annie. In February 2014, Momo announced its registered user base had reached 100 million with 40 million monthly active users (MAU). By June of the same year, registered users reached 148 million, with the MAU reaching 52 million.

Momo reported raising a Series A round of funding with PurpleSky Capital (ZiHui ChuangTou) and Matrix Hong Kong leading the round. Momo's form F-1 filed with the SEC reported that USD 5 million in funding was raised in this funding round, despite Momo having announced it at USD 2.5 million.

In October of 2012, Momo completed a Series B funding round, raising approximately USD 40 million with participation from the China-based eCommerce platform Alibaba Group. The Series B funding pushed Momo's valuation to USD 100 million.

In October of 2013, Momo reported closing its Series C funding round, raising USD 45 million with investment participation from Matrix Hong Kong, Gothic Partners, L.P., PJF Acorn I Trust, Gansett Partners, L.L.C., PH momo investment Ltd., Tenzing Holding 2011 Ltd., Alibaba Investment Limited, and DST Team Fund Limited.

In May of 2014, Momo raised a Series D funding round, its final funding round before IPO. The Series D round raised USD 211.8 million with preferred shares being sold to Sequoia Capital China Investment Holdco II, Ltd., Sequoia Capital China GF Holdco III-A, Ltd., SC China Growth III Co-Investment 2014-A, L.P., Rich Moon Limited, and Tiger Global Eight Holdings.