Stocks of online dating software Momo ( MOMO ) rose 26percent in their industry first regarding the Nasdaq Thursday. This is basically the very first Chinese tech initial general public offering from inside the U.S. since Alibaba’s blockbuster stock purchase in September.
Exactly why all the hoopla? Momo has over 180 million users and it is catering to your most populous country in the world. Momo already became its user base 160per cent from this past year.
Furthermore, Momo has some excellent pals. Alibaba ( BABA ) is a significant investor. Jack Ma’s organization possesses a 20percent stake and plans to pick most companies included in the IPO. 58 ( WUBA ) , a business enterprise often referred to as Asia’s Craigslist, can also be purchase a stake.