Update: Momo Completes Second-round Funding

The Founder, 11/12/12

Beijing-based location-based services provider Momo Technology has completed second-round funding, giving the company a valuation of approximately USD 100 mln, according to independent investment bank China Renaissance, which acted as the exclusive financial advisor for the round, and Momo CEO Tang Yan.

Momo announced on August 3, 2012 that its registered user based had surpassed 10 mln, with daily active users exceeding 2.2 mln and a male:female ratio of 2:1.

Editor's Note: According to an industry source close to the matter, Alibaba Group led Momo's second round of funding detailed above. For more background on this topic, please see "Rumor: Momo Wins Second Round Funding" MD 8/03/12 issue and "Momo Denies Rumors of Alibaba Funding" MD 8/23/12 issue.

Keywords: registered users funding valuation wireless VC China Renaissance active users Tang Yan Momo LBS

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