Momo

Parents in China are taking matters into their own hands with their single adult children and using dating apps to help them find someone to marry.

Parent-facing dating apps are taking off in China, according to Rest of World, which reports on tech trends globally. Many parents are using online matchmaking platforms like Perfect In-Laws, Family-Building Matchmaking, and Parents Matchmaking to set up dates for their grown and unmarried children.

On platforms like these, the parents set up profiles for their children, sometimes without their knowledge or consent, according to Rest of World. When the match is made, it’s the parents who meet and get to know each other first, similar to matchmaking apps used in India.

Beijing-based social app Momo is the latest company to see its revenue fall for the first quarter of 2020 due to the economic repercussions of a global pandemic. Interestingly, while other social networks and dating apps have seen an increase in users over the same period, Momo reported a decline there, too.

According to PanDaily, Momo’s net revenues decreased by 3.5% year over year to $3.59 billion Chinese yuan. The bulk of the revenue  - 64.9% - came from live-streaming services on Momo and its popular dating app Tantan. Tantan on the other hand reported an increase in revenue in the first quarter of 29.3 percent from Q1 of 2019. Tantan contributed 10 percent of Momo’s overall revenue for Q1 of 2020.

For the past several months, protests have been breaking out on a regular basis in Hong Kong, thanks to young student activists who want to maintain the city’s democratic leanings over the more oppressive mainland Chinese government’s rule. But along with the students who are moved to action, dating culture in Hong Kong is also changing as a result of the protests.

Many daters use popular dating apps like Momo, Tantan or Tinder to connect with each other, and aren’t afraid to list their political feelings in their profiles or when they message other daters. (Adding a yellow ribbon to your profile means you sympathize with protestors while a blue ribbon means you support the police and the mainland Chinese establishment.) Some are even posting photos of themselves at protests as a way to attract potential dates with the same political leanings.

Momo Homepage Screenshot

Momo reported financial results for the third quarter of 2019. The company’s major moments this year included topping Fortune’s ranking of the 100 fastest-growing companies in 2019 and working to get Tantan reinstated after it was removed from Android app stores by order of governmental authorities in China. Overall, Q3 was a positive period for the Chinese social networking and dating company.

Momo highlighted the following achievements for Q3 2019:

Momo ended 2018 on a mixed note. In the good column: revenue jumped 51 percent in the third quarter of the year and net income rose nearly 8 percent year-over-year. In the bad column: news broke that 30 million Momo users may have been affected by a data leak.

If there was any doubt then which column would win in the end, it’s long gone now. Momo is back on its feet and recently scored the coveted number one spot on Fortune’s 2019 list of Fastest-Growing Companies in the world. It’s the Chinese dating app’s first appearance on the annual top 100 list.

Chinese dating app Tantan, which was recently removed from the Chinese app stores, is on the rise in India. The popular app has gained traction among singles and is now the fifth most popular dating app in the country.

“India is one of the fastest growing internet markets in the world, hence it’s very important to be present and win in the Indian market,” Tantan told Quartz. “After doing a soft launch in India, we learned more about the market and users which helped us in serving the market better.”