Momo Receives $1.9bn Buyout Offer From CEO


The CEO of Momo is looking to buy all remaining shares of the dating app for $1.9bn.

Six months ago, the company went public on the US market, raising $216m for its IPO.

This was at a valuation of $3bn.

Now the CEO of the company, Tang Yan, and a group of management-affiliates want to buy the remaining shares of the messaging app.

Yan and the investment firms want to acquire the outstanding shares for $18.90 in cash, which is a 20.5% premium over Monday’s closing price.

Yan and his affiliates already own 47.8% of Momo shares, which represents around 84% of the voting power of the company.


Momo is a location-based mobile messaging app, sometimes referred to as China’s Tinder, which is used as a social and dating app amongst its massive user base in Asia.

In their Q1 2015 report, Momo announced that they recently hit 78.1m MAU, an 83% increase compared to the year before.

The app also saw a massive 383% increase in revenue compared to the year before, exceeding their expectations by hitting $26.3m in revenue.

This increase saw Momo achieve profitability for the first time in the company’s history.

And in Q1 2015, Momo’s net income was up from a loss of $1.2m last year, to a positive income of $6.7m.

Simon Edmunds

Simon is the former editor of Global Dating Insights. Born in Newcastle, he has an English degree from Queen Mary, London and after working for the NHS, trained as a journalist with the Press Association. Passionate about music, journalism and Newcastle United.

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