In May 2013, Beijing Momo established Chengdu Momo Technology Co., Ltd.(Chengdu Momo), as a wholly owned subsidiary. sold Series D preferred shares to Sequoia Capital China Investment Holdco II, Ltd., Sequoia Capital China GF Holdco III-A, Ltd., SC China Growth III Co-Investment 2014-A, L.
In October 2013, raised USD 45 million in Series C financing. Some features of the application include subsections like: Nearby Users, Groups, Message Board, Topics, and Nearby Events.
Users can send multi-media instant messages as well as play single and multi-player games within the app’s platform.
Users also make a Facebook-like profile and are encouraged to include as much information as possible.
Momo (Chinese: 陌陌; pinyin: mò mò) is a free location-based services instant messaging application for smartphones and tablets.
The app allows users to chat with nearby friends and strangers.
Momo provides users with free instant messaging services through Wifi, 3G and 4G.
The client software is available Android, Prior to founding Beijing Momo, Tang Yan worked as editor and then editor-in-chief at Net Ease, Inc..
In October 2014, Tang was named by Fortune Magazine as one of its “40 Under 40,” a list of the most powerful business elites under the age of 40.
The other co-founders all have prior experience with major Chinese Internet companies.
In order to facilitate foreign investments, Beijing Momo’s co-founders, in November 2011, incorporated a holding company, Momo Technology Company Limited, registered the British Virgin Islands. established Momo Technology HK Company Limited (Momo HK) as a wholly owned subsidiary in Hong Kong.
In July 2014, Momo Technology Company Limited was renamed Momo Inc. In March 2012, Momo HK established Beijing Momo Information Technology Co., Ltd.(Beijing Momo IT), a wholly owned People’s Republic of China subsidiary.