Momo has expanded its portfolio once again, this time entering the short video market by launching the new social app ‘Duiyan’.
Users record and upload their own clips and browse a feed of the most popular content from other creators. However, user feeds are not customisable, meaning the videos that are recommended appear fairly randomly.
Public comments overlay the videos in a bullet point format, similar to live streams, and viewers can easily send private messages to their favourite creators.
Momo’s stock price reacted positively to the new product as it climbed by just over 8% when the news was first announced.
Having successfully cornered the online dating market in China, Momo is now looking to take on the country’s biggest video companies. ByteDance (TikTok) and Tencent (Kuaishou) are currently the two leading competitors.
The Tantan-owners have been experimenting with a couple of new dating products in the last few months.
‘Qiao Qiao’ is a self-incubated app that gradually reveals singles’ profile pictures as the conversations progress, while ‘Qianshou Love’ is targeted at people in smaller cities and only sends 15 recommended matches each day.
Tencent launched a swathe of its own dating apps in November and December. Maohu, Quingliao and Dengyu Jiaoyou made it obvious that the technology conglomerate is looking to make a serious impact on the industry this year.
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