Momo suddenly changed its name to "Hello" group, and Harrow bike suffered a crit of 10000.
On August 2, without warning in the market, Beijing Momo Technology Co., Ltd. suddenly announced that it would change its company name to "Hello" Group, but the name of Momo App will not change, and Momo's listed entities on Nasdaq in the United States will also trade under the new company name.
For a listed Internet company, changing the Logo and advertising language has great influence, not to mention changing the company name. You know, Xiaomi changed the Logo from a right angle to a rounded corner before, which caused market fluctuations.
Momo official told the media that the name Momo can no longer cover Momo's current overall business (including Momo, exploration, Momo film and television music, variety show, etc.), so it is necessary to change the group name.
Is that really the case? It is not ruled out that the company changed its name to better carry the new business scope, but the deeper reason may be that Momo has lost its transformation, and the user's evaluation of it has always been negative. The label of "no pornography, no strangeness" is becoming a shackle that it cannot remove.
Previously, Momo had begun to build new brands to replace users' stereotypes about Momo, such as launching video social tools "Right Eye" and "Right Eye" in just a few years; Beauty social software "Muncie"; Location dating software "Moduoduo" and Yan value social software "Wow", and recently "Kaka".
These actions are revealing a signal to the outside world that Momo may have to give up the past.
The core selling point of this software is socializing with strangers. Users can show themselves by text, video, voice and pictures, or find other users nearby according to their geographical location and view their personal presentations.
To Mo Mo's surprise, he became the pioneer of strangers' social interaction in China. Users who have just stepped into the mobile internet are attracted by strangers' social interaction and location-based social interaction, which quickly brings traffic dividends to Momo. In less than three years, Momo's monthly activity reached 70 million, and 20 14 successfully landed on Nasdaq.
Like the Internet companies at that time, Momo did not find a sustainable profit model after listing, but tens of millions of users could not realize it, so Momo lost 25 million in the first year of listing.
After listing, Momo was eager to tell a good story to the capital market, so she tried every means to increase her income and profit, such as trying the game business, trying the membership payment business and trying the traditional way of realizing advertising, but the revenue did not improve much. Until 20 15, the live online broadcast came, and Mo Mo seemed to finally find a way.
Since then, Momo's business has become distorted. Externally, Momo generally appears as a social platform, but from the financial report, Momo accounts for the bulk of the live broadcast revenue. For example, the financial report of 20 16 shows that the live broadcast revenue accounts for more than 50% of the total revenue, and so does 20 17. In 20 18, Momo's live broadcast revenue even accounted for more than 80% of the total revenue. Whether Momo is a social platform or a live broadcast platform, I believe Momo himself can't tell clearly.
Why can Momo still get a slice of the pie when live broadcast platforms such as Betta, Tiger Tooth, Tik Tok and Aauto occupy more than half of the country faster? This has to mention Momo's "Blade Licking Blood" live broadcast business. Momo live broadcast is mainly based on sexy beauty show, and the profit mainly depends on the audience. Where there are beautiful women, there is never a shortage of traffic.
However, this model has brought huge regulatory risks to Momo. In the past five years, Momo has reported negative news about pornography more than ten times, and the platform has been investigated and dealt with by the regulatory authorities many times.
Momo, who walks in the gray area, earns real money. In 20 15 years, in the first year after the transformation of momo live broadcast, the company's profit was13.7 million yuan, and in 20 19 years, the profit actually reached nearly 3 billion yuan (the market value of momo exceeded10 billion US dollars in the same year). In the past five fiscal years, the compound annual growth rate has actually reached 300%.
However, the good times did not last long, and the regulatory environment faced by Momo became stricter and stricter, and new competitors appeared constantly. This dilemma is also reflected in its latest financial report.
Momo's quarterly report 200211 shows that the company's revenue in the first quarter was 3.4706 billion yuan, down 3.4% compared with last year, and its net profit in the first quarter was 4.6 46. 17 billion yuan, down/kloc-0.5% compared with last year.
DOG, this can't go on. He must establish a new image and develop new business.
The socialization of strangers is actually a small circle in the social field. Momo brought this social form to users, but also triggered a new track.
The rise of new social software for strangers like SOUL indicates that the whole track is becoming crowded.
In fact, in 20 14, strangers' social track has already staged the drama of "competing with each other". According to statistics, in 20 14, there were nearly 700 strange social apps in the application market, of which more than 160 projects received capital injection from the capital market.
There are so many similar softwares in just one year, which inevitably makes the situation terrible. However, so many unfamiliar social apps face the same problem and can't find a suitable profit model, which is exactly the same as the dilemma that Momo faced at that time. Some applications died on the beach after burning their investments.
Only three years later, there are less than ten unfamiliar social platforms still alive in the market, and the survival rate is less than 6%. Among them, Momo has found a "profit model", Momo not only survived, but also lived well.
There is also a platform to survive-exploration. The platform where their services and users basically overlap has become their biggest competitors. I have been playing for two years, because Momo is profitable by live broadcast, and exploration depends on membership fees. In the end, in 20 18, the exploration was acquired by Mo Mo, and the battle for strangers' social track ended in Mo Mo's victory.
However, Mo Mo did not usher in a unique bright moment, but ushered in a series of negative crises involving pornography.
From 20 15 to 2020, Mo Mo will fight against pornography almost every year. In the first half of 2020 alone, Momo was exposed to sexual assault cases 12, including several cases involving girls under the age of 14.
Under the successive scandals, Mo Mo's image plummeted. Even some Momo users are ashamed to let others see such comments after installing Momo on their mobile phones. At the end of 2020, Qilu Evening News exposed the news that "we are all soliciting business through Momo" and clearly marked the price in Momo, which made Momo suffer a deeper social torture.
Faced with increasingly strict supervision and the image of falling to the bottom, Momo began to change its image, constantly launched new businesses, and strived to diversify its products for development. In addition, Momo constantly launched sub-brands, trying to dilute the adverse effects of the main brand.
For example, Momo launched several brands of social software in a short time: Duiye, Duiye, Muncie, Momo Duoduo, Wow, Kaka.
Some insiders pointed out that Momo Group changed its name to Hello Group, and besides commercial considerations, it may also consider reshaping its brand image.
Insiders also pointed out that renaming is not a panacea. It is king to find new profit points in the revenue of Momo who suffers from "beauty live broadcast dependence". Otherwise, Momo, who is socializing under the banner of live broadcast, will fall into a bigger maze after renaming.
# Momo #