The CEO of YY is David Li and a major investor in YY is Lei Jun, the CEO of phone company Xaiomi.
FORBES: China's YY Expects $90 Million IPO For Its Social Platform
Today, YY has moved from gaming to a rich communication social platform based on voice.
FORBES: China's YY Eats Meat To Prep For Going Public on NASDAQ
But someone has to be the brave one, and why not the innovative YY?
FORBES: China's YY Eats Meat To Prep For Going Public on NASDAQ
The YY IPO is the first by a Chinese company in the U.S. in eight months.
FORBES: China's YY Prices IPO At Low End Of Range, But Trades Up 10%
Singers, teachers, or other people using the service can earn money on YY via virtual goods.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
Remarkably, YY, can support more than 100, 000 users at the same time on one of its channels.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
And they do not have the diverse revenue streams such as the virtual goods component that YY does.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
The YY listing is seen as an ice-breaking move to revive the U.S. IPO market for Chinese companies.
FORBES: Chinese Billionaire Lei Jun Sees Hundred-fold Return After YY IPO
Instead, YY generates its music revenue from virtual goods that people purchase to give to singers on the platform.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
In the second half of this year, however, YY plans to add monetization for educational rooms or what it calls channels.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
As I noted in my profile, people use YY for a variety of purposes, including karaoke, language education, and business meetings.
FORBES: China's YY Prices IPO At Low End Of Range, But Trades Up 10%
Guangzhou, China company will trade on the Nasdaq under the ticker YY.
FORBES: China's YY Expects $90 Million IPO For Its Social Platform
There are now about 11 million channels and YY hit a peak of 8.45 million concurrent users across its platform in December 2011.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
The Guangzhou, China company was profitable last year and expects to be profitable again this year, says David Li, cofounder and CEO of YY.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
On October 15, YY.com, a Chinese video-based social networking site, filed to list its shares in New York, seeking to thaw the icy conditions.
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Using builder-fronted financing, YY expects to break ground within three months.
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Li launched YY in 2008 from Guangzhou as a gaming company.
FORBES: China's YY Eats Meat To Prep For Going Public on NASDAQ
One of the most popular uses of YY is for karaoke, where one person will sing while others follows along and chat with each other on text chat.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
In 2008, the company launched YY, a voice-based gaming communications service, which enabled gamers to voice chat over the Internet and text chat in real-time while slaying monsters or coordinating gaming missions.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
But in fact, there are a number of China tech startups innovating in areas unbeknownst to many in the West. (Virtual goods, which originated in Asia, is a good example.) YY Inc.
FORBES: YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist
David Li, CEO and co-founder of Chinese startup YY, and his venture backers are setting out to see if Wall Street investors can still fall for another publicly traded China tech stock.
FORBES: China's YY Eats Meat To Prep For Going Public on NASDAQ
As one of only two Chinese companies to IPO in the U.S. in 2012, YY has seen its stock price climb more than 50% since November and proved that investors still like Chinese tech stocks.
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FORBES: China's YY Eats Meat To Prep For Going Public on NASDAQ
Updated: Attempting to break the frozen China IPO market in the U.S., China-based voice and video chat company YY Inc. priced its initial public offering at the low end of its expected range, but traded up 10% in early trading Wednesday.
FORBES: China's YY Prices IPO At Low End Of Range, But Trades Up 10%
While the majority of his fortune comes from Xiaomi, he also owns minority stakes in a number of Chinese online enterprises, including Hong Kong-listed anti-virus firm Kingsoft, private e-commerce companies Vancl and Lakala, mobile browser provider UC Web, and YY, which hit the Nasdaq exchange last Wednesday.
FORBES: Chinese Billionaire Lei Jun Sees Hundred-fold Return After YY IPO
YY, which boasts more than 400 million registered users who engage in real-time group activities like karaoke and tutoring through audio, text and video on the free platform, went public in the U.S. rather than in Hong Kong or Singapore because its platform has "global implications, " Chief Executive David Xueling Li said in New York, through a translator.
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