The founder and CEO of Chinese location-based social app Momo, Tang Yan, said the company will pursue opportunities in overseas markets for its dating app Tantan at Momo’s earnings conference call.
Momo, which started as a dating app but has diversified to offer a wider social experience that integrates live streaming and gaming, acquired Tantan in May in a US$735 million cash and stock swap deal.
“We do see the overseas market, especially Eastern markets, as a big growth opportunity for Tantan down the road. We believe Tantan has a significant competitive advantage in our operational fit for Eastern cultures,” said Wang Yu, founder and CEO of Tantan.
Tantan is one of the top ten social apps on Android in Nepal, Singapore, Indonesia, and the Philippines, with more than 10 million installs, Tech in Asia reported in December, citing App Annie data.
Tantan had 3.9 million paying users in the fourth quarter of 2018, according to the financial results disclosed prior to the earnings call.