[4] Momo officially began operations in July 2011, and a month later, launched the first version of the app for iOS.
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.
Angel investor, PurpleSky Capital (ZiHui ChuangTou), and Matrix Hong Kong led this round of financing.
[14] However, Momo's Form F-1 filed with the SEC reports that USD 5 million was raised in this round of financing.
Matrix Hong Kong, Gothic Partners, L.P., PJF Acorn I Trust, Gansett Partners, L.L.C., PH momo investment Ltd., Tenzing Holding 2011 Ltd., Alibaba Investment Limited, and DST Team Fund Limited were all issued and sold Series C preferred shares.
It enables users to establish and expand their social relationships based on similar locations and interests.
Users can send multimedia instant messages as well as play single and multiplayer games within the app’s platform.
Benefits of a paid membership include: VIP logos, advanced search options, discounts in the emoticon store, higher limits on maximum users in a group, and the ability to see a list of recent visitors to a user’s profile page.
[5] Like many other instant messaging services, Momo has integrated mobile games into their platform to monetize off their large user base.
In August 2014, Momo launched Dao Dian Tong, a marketing tool for local merchants.
[20] On April 27, 2012, Mike Sui, a mixed-race comedian and performer in China, first posted his "12 Beijingers"[21] viral video which attracted nearly 5.17 million hits.
In this video, one character mentions Momo, for the first time calling it a magical tool to get laid (Chinese: 约炮神器; pinyin: yuē pào shén qì ).
Momo’s latest online campaign focused on supporting the homeless cats and dogs of China.