Could Tencent Topple Momo as the “Tinder of Asia”?

Could Tencent Topple Momo as the “Tinder of Asia”?

The tech that is chinese has revealed three brand new dating apps within the last month or two.

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Tencent (OTC:TCEHY) rules China’s mobile texting market with WeChat, which acts 1.15 billion month-to-month users that are activeMAUs). Its ecosystem of more than a million “mini programs” allows users to search, purchase meals, play games, hail trips, make re payments, and much more — all without ever making the software.

Meanwhile, Momo (NASDAQ:MOMO) could be the online that is top platform in Asia. Its namesake software started off as a social network application|networking that is social, but gradually evolved into a platform for online dating and real time videos.

Momo’s smaller software, Tantan, is basically a clone that is chinese of Group’s Tinder. Momo’s core software had 114.1 million MAUs last quarter, and 13.4 million of them purchased digital presents or subscribed to premium online dating services on Momo and Tantan.

Image supply: Getty Photos.

Those two businesses generally speaking are not considered rivals, but Tencent recently established three torpedoes at Momo: an anonymous video clip dating app called Maohu (“Catcall”), a Tinder-like application called Qingliao (“Light Chat”), and a reboot of their Pengyou (“Friends”) app as a social networking having a dating feature that is opt-in.

What’s Tencent up to?

WeChat’s MAUs expanded 6% yearly last quarter, but it is just a matter of minutes before this ubiquitous “super software” runs away from space to cultivate in Asia. Meanwhile, Gen Z-oriented competitors like ByteDance’s TikTok and Bilibili are attracting younger users, while WeChat seems shackled to its reputation as an application for older users.

A study that is recent research firm Jiguang discovered that simply 15% of Chinese users created after 2000 posted daily updates on WeChat, compared to 57% of users created within the 1960s. Which is similar to the generation gap between Twitter and Instagram in Western markets, where moms and dads saturated the former and teens that are sent toward the latter. WeChat is also commonly considered a “work software,” since managers put it to use to keep monitoring of their workers.

To put it simply, Tencent requires brand brand brand new methods to achieve younger users, and Momo’s streak of double-digit income development shows that online dating sites is nevertheless a market that is fertile.

Meet Maohu, Qingliao, and Pengyou

Maohu, which established throughout the summer time, lets users talk anonymously with strangers while donning electronic masks. Male users can wear the mask for no more than 5 minutes, while feminine users can indefinitely wear a mask. When a person removes his / her mask, beauty filters are used immediately to your real time video.

Qingliao, that has been introduced in belated November, resembles Momo’s Tantan and Match’s Tinder, but does not follow the swiping mechanic of the two apps. Alternatively, it just provides two alternatives in the right part of each and every profile — someone to “like” it, and another to dismiss it.

Its primary web web page shows a carousel of prospective matches, and users can scroll right down to see information that is additional an individual’s career, academic history, hobbies, location, and social networking postings. The matches are refreshed every 18 hours. The application happens to be being tested on an invite-only foundation.

Image supply: Getty Pictures.

Pengyou, that was relaunched in mid-December, is definitely an updated form of an adult social network software that ended up being discontinued in 2017. The latest app resembles Instagram featuring its principal feed of solitary pictures, however it splits its feed into three categories — friends, peers, and folks whom reside in the exact same town.

Users need certainly to validate their identities with personal qualifications, and so they can opt-in for dating matches. This approach that is subtle just like Twitter’s opt-in strategy with Twitter Dating. Like Qingliao, Pengyou continues to be being tested on an invite-only foundation.

Should Momo worry?

Tencent demonstrably wants to leverage the effectiveness of its WeChat and QQ ecosystems to get fresh footholds when you look at the online market that is dating. This might be bad news for Momo, which struggled with decelerating development in MAUs and revenue on the year that is past

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