Momo Inc., the holding company for some of China’s most popular dating, social and streaming platforms, has announced it has officially changed its name to Hello Group Inc.
An ‘Extraordinary General Meeting’ was held in Beijing yesterday, giving shareholders the opportunity to hear more about the proposed change before casting a vote.
The motion was passed and Hello Group began trading under the new name on the morning of 2nd August. The American Depositary Shares represent two Class A ordinary shares, par value $0.0001 per share.
It appears as though the new name was introduced to clear up any confusion with its flagship product, as well as contribute to a wider business refresh which is attempting to overturn a steady period of decline.
According to Pandaily, a spokesperson for Hello Group explained: “The former name Momo cannot cover the current businesses of the company, including Momo app, Tantan, Momo Pictures, and QOOL Media, so it is changed with the new name.”
There is currently no update on a new logo or whether the company will change its trading ticker symbol from $MOMO.
Hello Group has lost over a third of its value since a peak in February. However, several analysts are bullish about increasing user numbers and a promising long-term outlook for Tantan.
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