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PR Newswire

Personal connections on social media drive more consumer purchases than influencers, Mintel research reveals

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MUMBAI, India, Oct. 5, 2023 /PRNewswire/ — Indian consumers are more inclined to be influenced by people they know personally on social media when making purchasing decisions, according to the latest research by Mintel.

While urban consumers show a preference for online influencers, with 28% relying on them compared to 19% of the total sample, they are more heavily influenced by social media posts from people they know across various categories like clothing and accessories (51%), dining out (33%), and household items (31%).

This trend is not exclusive to urban areas. In Tier 3 cities, a significant 67% of consumers have not made purchases based on online influencers’ recommendations in the last six months through May 2023. Mintel research suggests that despite engaging with online influencers, consumers in low-tier cities remain unconvinced when making purchase decisions.

Urban Gen Z and Millennials draw inspiration from sports and entertainment celebrities

However, in urban settings, an affinity toward sports celebrities has emerged due to the increasing preference for an active lifestyle, particularly for Gen Z and Millennials. In the past six months, two in five women (40%) and men (36%) aged 18-34 have made clothing and accessory purchases based on influencer recommendations. Notably, nearly four in 10 (39%) men aged 18-34 who follow influencer advice favour sports celebrities over entertainment celebrities.

“When developing their social media marketing strategy, it’s critical for brands to consider consumers’ preferences, whether they’re targeting young men who admire sports stars for their lifestyle and fashion choices, or young women who tend to look up to entertainment celebrities and movie stars for fashion inspiration,” said Saptarshi Banerjee, Senior Lifestyle Analyst, Mintel Reports India.

Women aged 18-44, particularly those between the ages of 35 and 44, show a significant inclination toward entertainment celebrities. Nearly two in five (37%) female followers of such celebrities say they purchase beauty and grooming products based on online influencers’ recommendations, compared to 24% of female consumers from the total sample who are active on social media platforms.

“The influence of celebrities in social media extends beyond beauty and grooming to a wide range of lifestyle categories, including clothing and accessories, dining out and shopping for household items such as furniture and home décor.

“Our research indicates that sports celebrities influence urban consumers, in particular, while urban females find inspiration in media celebrities’ lifestyles. Brands can leverage the aspirational appeal of these celebrities, combining it with the broad reach of micro and nano influencers to craft compelling and authentic influencer marketing campaigns,” continued Banerjee.

Authenticity and the rise of micro and nano influencers

Consumer awareness is growing regarding the financial gains that drive online influencers, with 24% of metro consumers (compared to 18% of the total sample) feeling that most influencers are untrustworthy. This has underscored the importance of authenticity and trust in successful influencer marketing campaigns.

Moreover, 33% of those distrustful of online influencers believe that social media influencers with fewer followers are more authentic than those with massive followings. “The increasing distrust of online influencers with massive followings highlights the growing relevance of micro and nano influencers* as they are seen to be more relatable and approachable than their more famous counterparts, thus garnering greater trust from consumers,” noted Banerjee.

Furthermore, nearly half (47%) of consumers are drawn to influencers who are knowledgeable, easily accessible and foster a personal connection with their audience. Additionally, authentic reviews in conjunction with humorous content can be instrumental in connecting with 56% of consumers, according to Mintel research.

“Consumers who immerse themselves in social media platforms are often drawn to content that speaks directly to their everyday concerns in an amusing and captivating manner. In this time of uncertainty, humour provides a much-needed reprieve and is thus a particularly attractive form of content,” added Banerjee.

YouTube: The most popular platform

Across different age groups, YouTube is the most widely used social media platform among Gen Z (87%), Millennials (72%) and Gen X (47%). Furthermore, younger consumers are engaging with multiple social media platforms with 47% of Indians aged 18-24 using four or more, while 31% of those aged 25-34 are active on three or more platforms.

Mintel research shows that 21% of Older Millennials aged 34-42 (compared to 16% of the total sample) actively engage with brands on social media, highlighting the growing significance of these platforms for this generation. A majority of them follow brands on Facebook (89%) and Instagram (67%), emphasising the value of maintaining a brand presence on these platforms.

“Facebook can be a great platform for brands to keep Older Millennials up to date with the latest industry trends and product announcements, while Instagram can be used to create visually appealing and unique engagements.

“Additionally, only half of Gen X have been active on social media in the last six months, while 70% of Baby Boomers have not used social media in the same period, making them less conducive to online influencer marketing,” concluded Banerjee.

Notes:

*Micro-influencers (10k–100k followers) and nano influencers (<10k followers)

PR Newswire

Yalla Group Limited Announces Unaudited Second Quarter 2023 Financial Results

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DUBAI, UAE, Aug. 15, 2023 /PRNewswire/ — Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Financial and Operating Highlights

  • Revenues were US$79.2 million in the second quarter of 2023, representing an increase of 4.1% from the second quarter of 2022.

– Revenues generated from chatting services in the second quarter of 2023 were US$55.2 million.

– Revenues generated from games services in the second quarter of 2023 were US$24.0 million.

  • Net income was US$28.3 million in the second quarter of 2023, compared with US$20.4 million in the second quarter of 2022. Net margin[1] was 35.7% in the second quarter of 2023.
  • Non-GAAP net income[2]  was US$33.8 million in the second quarter of 2023, compared with US$28.6 million in the second quarter of 2022. Non-GAAP net margin[3] was 42.6% in the second quarter of 2023.
  • Average MAUs[4] increased by 14.3% to 34.2 million in the second quarter of 2023 from 29.9 million in the second quarter of 2022.
  • The number of paying users[5]  on our platform increased by 26.6% to 13.4 million in the second quarter of 2023 from 10.6 million in the second quarter of 2022.

Key Operating Data

For the three months ended

June 30, 2022

June 30, 2023

Average MAUs (in thousands)

29,920

34,192

Paying users (in thousands)

10,585

13,402

[1] Net margin is net income as a percentage of revenues.

[2] Non-GAAP net income represents net income excluding share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.

[3] Non-GAAP net margin is non-GAAP net income as a percentage of revenues.

[4] “Average MAUs” refers to the average monthly active users in a given period calculated by dividing (i) the sum of active users for each month of such period, by (ii) the number of months in such period. “Active users” refers to registered users who accessed any of our main mobile applications at least once during a given period. Yalla, Yalla Ludo and Yalla Parchis have been our main mobile applications for the periods presented herein; YallaChat and 101 Okey Yalla have been our main mobile applications since the fourth quarter of 2022; and WeMuslim has been our main mobile application since the second quarter of 2023.

[5] “Paying users” refers to registered users who played a game or purchased our virtual items or upgrade services using virtual currencies on our main mobile applications at least once in a given period, except for users who receive all of their virtual currencies directly or indirectly from us for free. “Registered users” refers to users who have registered accounts on our main mobile applications as of a given time; a registered user is not necessarily a unique user, as an individual may register multiple accounts on our main mobile applications.

“Our robust second quarter performance delivered total revenues that increased by 4.1% year-over-year to US$79.2 million, exceeding the top end of our guidance despite the period’s seasonality prompted by the Ramadan holiday,” said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. “These exceptional results showcase our ongoing dedication and ability to successfully refine our operating processes, enhance the gamification of our flagship applications and optimize our user acquisition strategy. As a result, we have holistically elevated users’ experience across our suite of products, driving increased user engagement. Our Group’s average MAUs increased to 34.2 million for the second quarter, up 14.3% year-over-year. Users are also showing increasing willingness to pay for our products and the number of total paying users increased to 13.4 million in the second quarter of 2023.

“The launch of our second hard-core mobile game Merge Kingdoms drove exciting progress in our mid-core and hard-core gaming business during the second quarter. Meanwhile, we continue to refine and upgrade our first self-developed hard-core game, Age of Legends, which was launched across Gulf countries at the beginning of August 2023,” Mr. Yang added. “Digital transformation is sweeping through the MENA region. To make the most of the growing opportunities within the expanding market, we are strategically investing in R&D and exploring new business prospects that complement our existing offerings. Moving forward, we will continue to leverage our local know-how and core capabilities, as well as work to forge collaborations with international partners that strengthen our offerings and overall value proposition.”

“In the second quarter, we achieved solid top-line and bottom-line growth as we continued to pursue high-quality development of our business,” said Ms. Karen Hu, CFO of Yalla. “Our commitment to disciplined cost management and an ROI-focused sales and marketing strategy has elevated our overall operational efficiency. We have also strategically leveraged the high-interest rates to achieve a higher return for our strong cash position. Consequently, we maintained a healthy level of profitability throughout the quarter, registering a net margin of 35.7% and excluding share-based compensation, a non-GAAP net margin of 42.6%. Our solid cash position and effective overall execution equip us to seize future opportunities that foster our sustainable growth and generate value for all of our stakeholders.”

Second Quarter 2023 Financial Results

Revenues

Our revenues were US$79.2 million in the second quarter of 2023, a 4.1% increase from US$76.1 million in the second quarter of 2022. The increase was primarily driven by the broadening of our user base and our enhanced monetization capability. Our average MAUs increased by 14.3% from 29.9 million in the second quarter of 2022 to 34.2 million in the second quarter of 2023. Our solid revenue growth was also partially attributable to the significant increase in the number of paying users, which grew from 10.6 million in the second quarter of 2022 to 13.4 million in the second quarter of 2023.

In the second quarter of 2023, our revenues generated from chatting services were US$55.2 million, and revenues from games services were US$24.0 million.

Costs and expenses

Our total costs and expenses remained relatively stable at US$55.3 million in the second quarter of 2023, compared with US$55.2 million in the second quarter of 2022.

Our cost of revenues was US$28.3 million in the second quarter of 2023, a 3.2% decrease from US$29.3 million in the same period last year, primarily due to lower commission fees paid to third-party payment platforms as a result of diversified payment channels, and lower technical service fees resulting from more disciplined management.

Cost of revenues as a percentage of our total revenues decreased to 35.8% in the second quarter of 2023, compared with 38.5% in the second quarter of 2022.

Our selling and marketing expenses were US$12.4 million in the second quarter of 2023, a 10.4% increase from US$11.2 million in the same period last year, primarily due to higher advertising and market promotion expenses driven by our continued user acquisition efforts and expanding product portfolio. Selling and marketing expenses as a percentage of our total revenues remained relatively stable at 15.6%, compared with 14.7% in the second quarter of 2022.

Our general and administrative expenses were US$8.0 million in the second quarter of 2023, a 15.4% increase from US$6.9 million in the same period last year, primarily due to an increase in incentive compensation and an increase in professional service fees. General and administrative expenses as a percentage of our total revenues remained relatively stable at 10.1%, compared with 9.1% in the second quarter of 2022.

Our technology and product development expenses were US$6.6 million in the second quarter of 2023, a 14.8% decrease from US$7.7 million in the same period last year, primarily due to the appreciation of the U.S. dollars, which resulted in a decrease in the reporting currency amount of salaries and benefits for our technology and product development team, demonstrating benefits of the Company’s globalized talent acquisition strategy. Technology and product development expenses as a percentage of our total revenues decreased from 10.2% in the second quarter of 2022 to 8.3% in the second quarter of 2023.

Operating income

Operating income was US$23.9 million in the second quarter of 2023, compared with US$20.9 million in the second quarter of 2022.

Non-GAAP operating income[6]

Non-GAAP operating income in the second quarter of 2023 was US$29.4 million, compared with US$29.2 million in the same period last year.

Interest income

Our interest income was US$4.6 million in the second quarter of 2023, compared with US$0.2 million in the second quarter of 2022, primarily due to a significant increase in interest rates applicable to the Company’s bank deposits and a continued increase in the Company’s cash position.

Income tax expense

Our income tax expense was US$0.82 million in the second quarter of 2023, compared with US$0.78 million in the second quarter of 2022.

Net income

As a result of the foregoing, our net income was US$28.3 million in the second quarter of 2023, compared with US$20.4 million in the second quarter of 2022.

Non-GAAP net income

Non-GAAP net income in the second quarter of 2023 was US$33.8 million, compared with US$28.6 million in the same period last year.

Earnings per ordinary share

Basic and diluted earnings per ordinary share were US$0.19 and US$0.16, respectively, in the second quarter of 2023, while basic and diluted earnings per ordinary share were US$0.14 and US$0.12, respectively, in the same period of 2022.

Non-GAAP earnings per ordinary share[7]

Non-GAAP basic and diluted earnings per ordinary share were US$0.22 and US$0.19, respectively, in the second quarter of 2023, compared with US$0.19 and US$0.16, respectively, in the same period of 2022.

Cash and cash equivalents, term deposits and short-term investments 

As of June 30, 2023, we had cash and cash equivalents, term deposits and short-term investments of US$510.5 million, compared with US$453.0 million as of December 31, 2022.

Share repurchase program

Pursuant to the Company’s share repurchase program beginning on May 21, 2021 with an extended expiration date of May 21, 2024, the Company completed cash repurchases in the open market of 2,302,141 American depositary shares (“ADSs”), representing 2,302,141 Class A ordinary shares, for an aggregate amount of approximately US$27.0 million, as of June 30, 2023. The aggregate value of ADSs and/or Class A ordinary shares that remain available for purchase under the current share repurchase program was US$123.0 million as of June 30, 2023.

Outlook

For the third quarter of 2023, Yalla currently expects revenues to be between US$73.0 million and US$80.0million.

The above outlook is based on current market conditions and reflects the Company management’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

[6] Non-GAAP operating income represents operating income excluding share-based compensation. Non-GAAP operating income is a non-GAAP financial measure. See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.

[7] Non-GAAP earnings per ordinary share is non-GAAP net income attributable to Yalla Group Limited’s shareholders, divided by weighted average number of basic and diluted shares outstanding. Non-GAAP net income attributable to Yalla Group Limited’s shareholders represents net income attributable to Yalla Group Limited’s shareholders, excluding share-based compensation. Non-GAAP earnings per ordinary share and non-GAAP net income attributable to Yalla Group Limited’s shareholders are non-GAAP financial measures. See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.

Conference Call

The Company’s management will host an earnings conference call on Monday, August 14, 2023, at 8:00 PM U.S. Eastern Time, Tuesday, August 15, 2023, at 4:00 AM Dubai Time, or Tuesday, August 15, 2023, at 8:00 AM Beijing/Hong Kong time.

Dial-in details for the earnings conference call are as follows:

United States Toll Free:

+1-888-317-6003

International:

+1-412-317-6061

United Arab Emirates Toll Free:

80-003-570-3589

Mainland China Toll Free:

400-120-6115

Hong Kong Toll Free:

800-963-976

Access Code:

8369149

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.yalla.com.

A replay of the conference call will be accessible until August 21, 2023, by dialing the following telephone numbers:

United States Toll Free:

+1-877-344-7529

International:

+1-412-317-0088

Access Code:

1131608

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP financial measures, namely non-GAAP operating income, non-GAAP net income, non-GAAP net margin and non-GAAP basic and diluted earnings per ordinary share, as supplemental measures to review and assess the Company’s operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP operating income as operating income excluding share-based compensation. We define non-GAAP net income as net income excluding share-based compensation. We define non-GAAP net margin as non-GAAP net income as a percentage of revenues. We define non-GAAP net income attributable to Yalla Group Limited’s shareholders as net income attributable to Yalla Group Limited’s shareholders, excluding share-based compensation. We define non-GAAP earnings per ordinary share as non-GAAP net income attributable to Yalla Group Limited’s shareholders, divided by the weighted average number of basic and diluted shares outstanding.

By excluding the impact of share-based compensation expenses, which are non-cash charges, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. Investors can better understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess its core operating results, as they exclude share-based compensation expenses, which are not expected to result in cash payments. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP financial measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by providing the relevant disclosure of its non-GAAP financial measures in the reconciliations to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating its performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of GAAP and non-GAAP results are set forth at the end of this press release.

About Yalla Group Limited

Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenue in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users’ evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users; Waha, a social networking product featuring 3-D avatars; casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla’s mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.

For more information, please visit: https://ir.yalla.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about Yalla Group Limited’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yalla Group Limited’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Yalla Group Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact: 

Yalla Group Limited
Investor Relations
Kerry Gao – IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com 

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com 

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com 

YALLA GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of

December 31, 2022

June 30, 2023

US$

US$

ASSETS

Current assets

Cash and cash equivalents

407,256,837

305,819,389

Term deposits

20,000,000

191,761,209

Short-term investments

25,788,304

12,952,035

Amounts due from a related party

—

136,608

Prepayments and other current assets

28,652,840

35,435,305

Total current assets

481,697,981

546,104,546

Non-current assets

Property and equipment, net

2,121,613

2,101,182

Intangible asset, net

1,328,470

1,240,710

Operating lease right-of-use assets

1,950,364

3,202,752

Long-term investments

3,833,750

3,819,565

Other assets

15,406,078

15,080,631

Total non-current assets

24,640,275

25,444,840

Total assets

506,338,256

571,549,386

LIABILITIES

Current liabilities

Accounts payable

5,382,276

1,268,107

Deferred revenue

35,957,485

43,998,842

Operating lease liabilities, current

858,452

1,293,977

Accrued expenses and other current liabilities

22,821,168

24,251,003

Total current liabilities

65,019,381

70,811,929

Non-current liabilities

Operating lease liabilities, non-current

744,612

1,678,544

Amounts due to a related party

709,789

647,575

Total non-current liabilities

1,454,401

2,326,119

Total liabilities

66,473,782

73,138,048

EQUITY

Shareholders’ equity of Yalla Group Limited

Class A Ordinary Shares

13,356

13,670

Class B Ordinary Shares

2,473

2,473

Additional paid-in capital

294,406,395

306,177,968

Treasury stock

(27,014,697)

(27,014,697)

Accumulated other comprehensive loss

(1,701,111)

(3,097,167)

Retained earnings

174,880,748

224,812,958

Total shareholders’ equity of Yalla Group Limited

440,587,164

500,895,205

Non-controlling interests

(722,690)

(2,483,867)

Total equity

439,864,474

498,411,338

Total liabilities and equity

506,338,256

571,549,386

YALLA GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS

OF OPERATIONS

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2022

June 30, 2023

US$

US$

US$

US$

US$

Revenues

76,090,799

73,518,613

79,246,363

148,428,081

152,764,976

Costs and expenses

Cost of revenues

(29,272,347)

(27,852,477)

(28,330,815)

(56,800,337)

(56,183,292)

Selling and marketing expenses

(11,208,074)

(11,354,975)

(12,378,490)

(23,734,535)

(23,733,465)

General and administrative expenses

(6,945,989)

(10,164,394)

(8,018,573)

(14,973,859)

(18,182,967)

Technology and product development expenses

(7,726,715)

(7,411,188)

(6,586,078)

(13,711,283)

(13,997,266)

Total costs and expenses

(55,153,125)

(56,783,034)

(55,313,956)

(109,220,014)

(112,096,990)

Operating income

20,937,674

16,735,579

23,932,407

39,208,067

40,667,986

Interest income

176,432

3,118,289

4,623,275

227,551

7,741,564

Government grants

1,847

177,659

4,560

160,532

182,219

Investment income (loss)

17,674

491,889

529,308

(150,771)

1,021,197

Income before income taxes

21,133,627

20,523,416

29,089,550

39,445,379

49,612,966

Income tax expense

(780,211)

(616,358)

(821,149)

(1,393,656)

(1,437,507)

Net income

20,353,416

19,907,058

28,268,401

38,051,723

48,175,459

Net loss attributable to non-controlling interests

236,433

554,591

1,202,160

314,597

1,756,751

Net income attributable to Yalla Group
   Limited’s shareholders

20,589,849

20,461,649

29,470,561

38,366,320

49,932,210

Earnings per ordinary share

——Basic

0.14

0.13

0.19

0.25

0.32

——Diluted

0.12

0.11

0.16

0.22

0.28

Weighted average number of shares

   outstanding used in computing earnings

   per ordinary share

——Basic

151,384,789

157,976,350

158,871,859

150,771,175

158,424,104

——Diluted

175,146,529

180,517,715

180,752,549

175,847,551

180,635,132

Share-based compensation was allocated in cost of revenues, selling and marketing expenses, general and administrative expenses and
technology and product development expenses as follows:

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2022

June 30, 2023

US$

US$

US$

US$

US$

Cost of revenues

1,404,341

1,030,249

923,513

2,848,661

1,953,762

Selling and marketing expenses

1,850,318

971,335

1,014,371

3,696,912

1,985,706

General and administrative expenses

4,663,550

3,245,278

3,242,981

9,326,219

6,488,259

Technology and product development expenses

357,487

349,277

315,173

668,929

664,450

Total share-based compensation expenses

8,275,696

5,596,139

5,496,038

16,540,721

11,092,177

YALLA GROUP LIMITED

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS 

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2022

June 30, 2023

US$

US$

US$

US$

US$

Operating income

20,937,674

16,735,579

23,932,407

39,208,067

40,667,986

Share-based compensation expenses

8,275,696

5,596,139

5,496,038

16,540,721

11,092,177

Non-GAAP operating income

29,213,370

22,331,718

29,428,445

55,748,788

51,760,163

Net income

20,353,416

19,907,058

28,268,401

38,051,723

48,175,459

Share-based compensation expenses,
   net of tax effect of nil

8,275,696

5,596,139

5,496,038

16,540,721

11,092,177

Non-GAAP net income

28,629,112

25,503,197

33,764,439

54,592,444

59,267,636

Net income attributable to Yalla
   Group Limited’s shareholders

20,589,849

20,461,649

29,470,561

38,366,320

49,932,210

Share-based compensation expenses,
   net of tax effect of nil

8,275,696

5,596,139

5,496,038

16,540,721

11,092,177

Non-GAAP net income attributable to
   Yalla Group Limited’s shareholders

28,865,545

26,057,788

34,966,599

54,907,041

61,024,387

Non-GAAP earnings per ordinary share

——Basic

0.19

0.16

0.22

0.36

0.39

——Diluted

0.16

0.14

0.19

0.31

0.34

Weighted average number of shares
   outstanding used in computing earnings
   per ordinary share

——Basic

151,384,789

157,976,350

158,871,859

150,771,175

158,424,104

——Diluted

175,146,529

180,517,715

180,752,549

175,847,551

180,635,132
PR Newswire

Wavemaker Announce Xiaohongshu SEED+ Product Seeding Solution

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SHANGHAI, Aug. 8, 2023 /PRNewswire/ — Wavemaker, in partnership with social media platform Xiaohongshu, recently unveiled the Xiaohongshu SEED+ Product Seeding Solution. The initiative includes three key modules: the Precise Insight Methodology for Growth Opportunity, the Effective Approach to the Media Mix, and the Optimization of the Scientific Evaluation System. The debut module, the Precise Insight Methodology for Growth Opportunity, employs data analysis to provide insights into the platform’s ecosystem, enabling brands to accurately identify growth opportunities with new communication track and implement precise, science-based product endorsement strategies.

Evolving product seeding to a scientific level and transforming the marketing strategy landscape

As the digital landscape evolves, Xiaohongshu has emerged as a crucial platform for brands to showcase, recommend and promote products. The diminishing benefits from internet traffic necessitate a move from traffic-centric marketing to data-driven, science-based product promotion strategies.

As brand marketing extends beyond mere product promotion, brands now view Xiaohongshu as a comprehensive strategic partner rather than a mere product seeding  platform. By leveraging the platform’s extensive media resources, brands also aim to provide potential customers with data-driven, scientifically backed product seeding experience. The approach augments promotional effectiveness and fosters a holistic approach to platform marketing.

At its annual Business Conference, Xiaohongshu underscored the significance of these data-driven product endorsement strategies by introducing its science-based product seeding concept. To capitalize on its data insight platform – Lingxi, Xiaohongshu and Wavemaker embarked on a joint project to create a practical, science-based solution They initiated the collaboration by brainstorming on how to better deliver data analysis, insight diagnostics, the marketing mix and optimization of the evaluation system, resulting in the SEED+ Product Seeding Solution, a response to Xiaohongshu’s precision marketing challenges.

An insightful approach to tackling brands’ marketing challenges

The SEED+ Product Seeding Solution comprises three key parts, with the Precise Insight Methodology forGrowth Opportunity forming the first step in building a holistic marketing journey. The methodology, based on the analysis of multiple data points, including brand tone of voice as well as product and audience characteristics, delivers precise data analytics and insights for brand marketing. It offers a useful, instructive, and science-based roadmap for the collaboration with Xiaohongshu.

With its extensive experience and data capabilities, Wavemaker offers precise placement analysis and seeding for diverse growth opportunity by transforming its case study experience into quantifiable data. This pragmatic and instructive approach ensures that the methodology is not merely theoretical but rather addresses tangible challenges that Xiaohongshu encounters in real-world collaborations. The challenges include new product launches, product updates, the media mix and optimization of the evaluation system. Through accurate measurement and defining of growth opportunity, Wavemaker provides brands at different stages in their development cycles with science-based approaches and targeted growth strategies, enhancing the effectiveness of product seeding.

The Precise Insight Methodology for Growth Opportunity  has been effectively deployed in several brand marketing campaigns, with Wavemaker’s assistance to L’Oréal Travel Retail serving as a prime example. By analyzing consumer content preferences, search behavior as well as beauty and skincare trends observed on Xiaohongshu, Wavemaker provided a scientifically backed solution for L’Oréal’s new product incubation model targeting the platform. This approach quickly raised the visibility of L’Oréal Paris Midnight Serum and the brand’s Hainan pop-up shop, capturing the attention of Xiaohongshu’s young female audience, as well as beauty and travel enthusiasts.

Groundbreaking collaboration facilitates the creation of a comprehensive seeding-based marketing system

As part of the strategic collaboration, GroupM China and Xiaohongshu first decided on the Joint Business Partnership (JBP) framework in tandem with setting goals for further collaborations involving business strategy, science and technology, innovative solutions, and capacity building.

One of the first results of the collaboration is the SEED+ Product Seeding Solution. The initiative, based on data empowerment, aims to further optimize Xiaohongshu’s data insights while providing brands with comprehensive, precise marketing solutions, delivering a more science-based, targeted, and enhanced seeding experience. This partnership marks a significant milestone as it represents the first strategic collaboration between a 4A agency and Xiaohongshu in the industry.

The strategic partnership centers around data empowerment. With the SEED+ Product Seeding Solution, Wavemaker seeks to improve the seeding effectiveness of brands by utilizing data processing to address Xiaohongshu’s seeding system’s shortcomings through a vast expansion in how the data is analyzed and leveraged. In particular, Wavemaker, by combining the platform’s extensive user data and resources with the firm’s proprietary data tools and third-party professional data platforms, conducts in-depth consumer, brand and sector analysis.  

The SEED+ Product Seeding Solution provides a complete marketing framework that leverages data as its underlying logic to enable evidence-based product seeding. The all-inclusive system not only enhances the accuracy of seeding but also assists platforms in providing resource integration strategies and suggestions, including stream seeding, keyword search enhancement and IP event marketing. The ultimate goal is to build a complete seeding-based marketing system.

The strong alliance with Wavemaker enables Xiaohongshu to achieve sustainable and effective conversions

Wavemaker China CEO Jose Campon stated that as the first 4A agency to form a strategic partnership with Xiaohongshu, Wavemaker is well-positioned to explore ways to help brands achieve their growth goals by fully utilizing the lifestyle platform.

Given a longstanding demand for promoting products via Xiaohongshu, brands have been exploring a science-based business model for content marketing. Riki Li, Wavemaker’s Chief Transformation Officer, explained that the firm’s collaboration with Xiaohongshu is a full-spectrum marketing partnership. By leveraging the platform’s data insights and an in-depth commitment to the consumer-centric journey, the partnership aims to create a precise branded content experience and attain conversion outcomes, added Li. The successful tie-ups with L’Oréal Travel Retail and CK have given both parties the confidence to explore further communication and business opportunities for customers in the future. Built on this success, Wavemaker will continue to work closely with Xiaohongshu in an effort to further leverage the benefits of integrated marketing across the entire supply chain, with the aim of aiding brands in attaining sustainable growth.

“Xiaohongshu’s natural Human2Human community boasts a large number of users who frequently communicate their product needs, enabling brands to connect with consumers through compelling content,” noted Yuan Lang, Head of Xiaohongshu Commercial Agency Partnership. “Over the past few years, the platform has assisted in the growth of numerous superior products across various sectors. We talk about the most successful of these products in the ‘Seeding Case’ section on our platform.”

Leveraging its alliance with Wavemaker, Xiaohongshu has adeptly utilized its data capabilities to engineer unique marketing strategies. The platform eagerly anticipates offering brands finely-tuned marketing approaches, each meticulously designed to fit distinct product life cycles. By highlighting quality products on the e-commerce platform, brands acquire a promising launchpad for exponential growth. Moving forward, Wavemaker plans to capitalize on its strengths in integrated marketing to encourage data-driven expansion while steadfastly aiding and empowering platforms and brands. The ultimate aim is to provide a laser-focused and impactful marketing experience.   

PR Newswire

Baby Shark Creator Pinkfong’s Bebefinn Surpasses 10 Million YouTube Subscribers, Setting New Company Record

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– With the New 3D Animated Series Bebefinn, the Creator of Baby Shark Earns its Fourth YouTube Channel with Over 10 Million Subscribers

– Bebefinn Achieves Diamond Creator Award in 14 Months, Making it the Fastest Pinkfong Channel to Reach the Milestone

– With a 206% Growth Rate in Views in Q1 2023, the U.S. Tops The List of Countries Where Bebefinn is Most Watched

SEOUL, South Korea, June 24, 2023 /PRNewswire/ — Baby Shark creator expands its empire on YouTube, earning its fourth Diamond Creator Award with its latest 3D animated series, Bebefinn.

Baby Shark Creator Pinkfong's Bebefinn Surpasses 10 Million YouTube Subscribers, Setting New Company Record.
Baby Shark Creator Pinkfong’s Bebefinn Surpasses 10 Million YouTube Subscribers, Setting New Company Record.

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The Pinkfong Company, the global family entertainment company behind Baby Shark, announced that Bebefinn’s YouTube channel has surpassed 10 million subscribers. Achieving YouTube’s Diamond Creator Award in the 14 months since its launch, Bebefinn became the company’s fastest YouTube channel to reach this milestone.

Produced by the creators of Baby Shark, Bebefinn is a 3D animated series about the daily lives of a close-knit family of three siblings and their parents centered on Finn, a 20-month-old baby who loves Baby Shark. With its engaging visuals, catchy songs, and relatable stories, the sing-along series has captivated kids and families around the world, making the Top 10 Kids on Netflix today in 12 countries. Along with Pinkfong and Baby Shark, Bebefinn was highlighted at the 2022 Asian Content Awards, where The Pinkfong Company won the Best Creator category.

“As Bebefinn quickly gains a global fan base, we will broaden our reach beyond spin-off content by introducing merchandise, licensing programs, live shows, and more. Leveraging Pinkfong and Baby Shark creators’ exceptional content creation experiences and abilities, we will continue to provide new ways for Bebefinn to connect with fans in fun and creative ways,” said Bitna Kwon, Chief Strategy Officer of The Pinkfong Company. “We’re thrilled to celebrate another remarkable milestone for our Bebefinn and look forward to the exciting journeys ahead for this adorable family.”

The Bebefinn news came on the heels of Pinkfong’s recent celebration of Bebefinn’s one-year-anniversary. Since its premiere in April 2022, Bebefinn has followed in the footsteps of Pinkfong and Baby Shark which have cemented themselves as content powerhouses on YouTube. Bebefinn’s English-language YouTube channel has experienced exceptional growth, amassing 10 million subscribers, 3 billion views, and 210 million watch hours in 14 months. In addition, Bebefinn’s own Baby Shark video on YouTube has surpassed 262 million views in the same period.

Among the countries where Bebefinn is most watched on YouTube, the U.S. tops the list with a 206% quarter-over-quarter growth rate in views in the first quarter of 2023. In addition to the U.S., Canada, the U.K., Australia, the Philippines, and Brazil are on the same list. Available in English, Spanish, and more, Bebefinn will be expanded to eight languages including Chinese and Indonesian.

In addition to YouTube and Netflix, Bebefinn has widened its reach to global audiences by expanding distribution channels internationally including linear TV, AVOD and FAST channels, and more.

Founded as a startup offering children’s educational services, The Pinkfong Company has evolved into the home of iconic IPs including its flagship franchise Baby Shark. Following the success of Pinkfong and Baby Shark, The Pinkfong Company has focused on the development of content and brand new original IPs including its latest hits Bebefinn and Sealook.

About The Pinkfong Company

The Pinkfong Company is a global entertainment company that delivers content and entertaining experiences around the world. Driven by award-winning brands and IPs, the company has created and distributed a range of content across genres and formats including original animated series, world live tours, interactive games, and more. Believing in the power of entertaining and engaging content, The Pinkfong Company is committed to connecting people around the world and bringing joy and inspiration to worldwide audiences of all ages. For more information, please visit the website or follow the company on LinkedIn.

Contact
Natalie Kim, Communications Team at The Pinkfong Company

PR Newswire

17Sing united campus to hold “Singing for Summer” activity, helping universities to upgrade, realizing students’ singing dreams

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TAIPEI, June 18, 2023 /PRNewswire/ — Recently, Taiwan’s well-known karaoke social app 17sing joined forces with six universities in Taiwan (Kun Shan University of Science and Southern Taiwan University of Science and Technology of Science, Chinese Culture University, and Tainan University of Technology of Applied Science and Technology, etc.) to hold a campus competition called “Singing for Summer”. The event starts on May 25th and runs until June 29th. During the event, the students were lively, and the students competed to participate, showing their youthful vigor and musical talent. The process of the event attracted much attention. Students from different universities recorded and uploaded their own music through 17sing. After voting, the top-ranked students will receive generous rewards: 20,000 NT$ in cash, exclusive opportunities to sign on the 17sing platform, the opportunity to be in the same stage with celebrities, trophies and certificates, etc.

During the event, 17sing also held promotional activities offline. The exquisite posters and exciting games in the event made the audience shocked and moved. At the same time, this activity also attracted many Internet celebrities who are also students to join, they signed up enthusiastically, showed their singing voice, and send it to their channels. Many students said: “I’m grateful that 17sing can give us such a good opportunity to show ourselves on a bigger stage. This will become an important beginning for our music path. We will work hard to realize our own music dream!”

17sing official stated, “We have been committed to providing better after-school life for the majority of young people, especially college students. This time, we jointly hold campus singing activities with universities to show more musically talented students. This is just the beginning, in the future, we will continue to increase investment in college market, hold more campus activities, discover more outstanding new musicians, and help them achieve dreams.” The leaders of the universities also expressed that they welcome 17sing to hold more such campus activities in the future. This not only enriches the students’ after-school life, but also is beneficial to the comprehensive development of students. In the future, 17sing will continue to increase investment in the college market, hold more online and offline activities on campus, serve the majority of college students, and allow more college students to open up new ways of social interaction and cultural experience in their spare time.

This activity provided opportunities for college students to show themselves, and the dreams of the award-winning students came true. 17sing sponsored the school industry and education funds of 6 universities, which not only enriched the after-school entertainment life of college students, but also played a very good role in promoting the cultural atmosphere on university campus. The event was a complete success. 17sing will continue to support the college market and hold more campus activities.

The “Singing for Summer” activity have also accumulated valuable market experience for 17sing. It has built a interactive bridge with the college students by sponsoring universities and students, which will definitely have a positive impact on the market share in 17sing. This joint campus event with colleges not only allows more college students to experience the unique social interaction way and new experience of after-school entertainment in 17sing, but also enables more college students to settle in and become 17sing loyal users. In the future, 17sing will continuously increase the penetration rate and influence in the college market.

“About 17sing”

17sing is the most popular karaoke social app in Taiwan. High-quality and powerful music library, you can find your favorite beat by style.You can sing with friends and learn singing skills. “AI scoring” can make you become the king of karaoke. Online karaoke room real-time singing , community groups let you make more friends.You can even film your own music video.The most interesting karaoke APP gives you the most trendy karaoke experience. Let’s go and sing on 17sing!

PR Newswire

Diane Wang Emphasizes the Significance of Digital Tools in Boosting Women Entrepreneurship at the 2023 BRICS Women’s Leadership Forum

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BEIJING, June 7, 2023 /PRNewswire/ — To deepen business cooperation and promote women entrepreneurship among BRICS countries, the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC) held the 2023 BRICS Women’s Leadership Forum on June 5 in Beijing.

Diane Wang, Member of BRICS WBA China Chapter, Founder, Chairperson & CEO of DHGATE Group, attended the panel discussion themed “She Leads in Digital Transformation”, along with Nobukhosi Dlamini, CEO of Bahati Tech, Mônica Pinhanez, CEO of Zeka Digital Education, Jingjing Xu, Chair of the Board, Meridian Smart Health Technology Beijing Ltd and Ayesha Nazneen, COO of Apollo Telehealth Services. Shen Yueyue, Vice Chairperson of the Standing Committee of the National People’s Congress, the All-China Women’s Federation chairperson, Ren Hongbin, Chairman of CCPIT, Siyabonga C. Cwele, South Africa’s ambassador to China, Lebogang Zulu, rotating chairperson of BRICS WBA, Group CEO of AV South Africa, and business representatives from BRICS countries including South Africa, Russia, Brazil, India, attended the forum.

Diane Wang Emphasizes the Significance of Digital Tools in Boosting Women Entrepreneurship at the 2023 BRICS Women
Diane Wang Emphasizes the Significance of Digital Tools in Boosting Women Entrepreneurship at the 2023 BRICS Women

MyyShop stages numerous budding women entrepreneurs

“We have to face the severe situation that there are still high barriers for women to gain knowledge,” said Diane during the forum, drawing participants’ attention to a survey carried out last year by the APEC Business Advisory Council in which 63% of women respondents from MSMEs reported a lack of professional skills while more than 50% expressed a strong need for training in digital tools. “All parties are in action, but I would like to reiterate to strengthen multilateral cooperation in the digital capability building for women, help women to access digital skills in a practical way to realize entrepreneurship,” she added.

To lower the barriers for women to participate in e-commerce to an absolute minimum and provide a powerful digital tool for young women entrepreneurs to grow their social commerce business, DHGATE launched MyyShop in 2020 as a pioneering social commerce platform. MyyShop provides digitalization tools and step-by-step support to empower creators, influencers, and individual entrepreneurs with social influence to effortlessly monetize their influence on social platforms. Put simply, users can “Share to Earn” by selling through shoppable feeds or leveraging influencer marketing on social platforms.  

Diane shared the story of Sonya, a Russian woman’s story to allow participants to have a full picture of how MyyShop works to help women stand on their own feet. Sonya is an international student studying in China. She once modeled part-time but gave that up when COVID-19 hit. Fortunately, she started to learn e-commerce knowledge and skills on MyyShop and tried to recommend wigs to her followers, which were shipped by MyyShop suppliers. Now, her monthly revenue is above USD 400,000, which not only allows her to pay her tuition fees but also allows her to partly support her family.

“This is a touching story that makes us believe that if we provide training to women and connect them with resources, they can better participate in the digital economy and make themselves better off. “

For women entrepreneurs, MyyShop addresses complex supply chain challenges in cross-border e-commerce using innovative technology and services. This enables women to leverage their strengths and actively participate in the digital economy with equal opportunities.

“We should strive to harness and utilize the latest technology. I look forward to seeing more women-led entrepreneurial enterprises effectively leverage the power of social networks and new technologies,” said Diane, pointing out the infinite potential of digital transformation.

A new women empowerment community to come

Diane appealed for different organizations among BRICS countries to cooperate with and promote outstanding women role models to inspire more women worldwide, foster an environment of public opinion that supports women entrepreneurs, and let women see the limitless potential of the digital economy.

To encourage the global women community to stand up, raise their voices, and break old stereotypes, Diane is in the process of establishing an international women empowerment community. “The road for women to form and grow a business is long and difficult,” said Diane, who founded DHGATE in 2004.

“If someone can guide budding entrepreneurs as mentors, allowing them to learn from their valuable experience, such women are more likely to succeed,” she added. This community will serve as a platform for women to support each other, giving them the opportunity to learn new skills, acquire new resources, realize their potential faster and better, and let the world see “Her Power”.

This new community initiative follows the APEC Women Connect platform initiated by Diane in 2016. As an APEC-endorsed program, the platform aims to empower women, especially young women, to realize entrepreneurship through digital solutions, including inspirational sharing, practical learning, effective recognition, and awards.

“We will continue to persist with this project and continuously expand its influence to drive and assist more women entrepreneurs,” said Diane.

During the 2023 BRICS Women’s Leadership Forum, the BRICS Women’s Development Report for 2023 was also published to provide an overview of the current state and progress of women’s development in these countries.

About DHgate

Founded in 2004, DHgate has become the leading B2B cross-border e-commerce marketplace in China. Through our global operations and offices, including in the USA and UK, we reach millions of people with trusted products and services. As of December 31, 2022, DHgate served more than 59.6 million registered buyers from 225 countries and regions by connecting them to over 2.54 million sellers in China and other countries, with over 34 million live listings on the platform annually. For more information, please visit dhgate.com and follow @DHgate.com

About MyyShop

MyyShop is a pioneering social commerce platform launched by DHGATE Group that allows effortless selling on social media. MyyShop aims to provide content creators with online store creation tools, as well as AI-powered, tailored product recommendations that their audience won’t be able to resist, allow them to sell with confidence knowing the products are in demand and backed by a world-leading supply chain that delivers to increase earnings quickly. For more information, please visit MyyShop.com and follow @MyyShopOfficial

PR Newswire

NAB Show Recognizes Prime Focus Technologies’ CLEAR® and CLEAR® AI with Coveted 2023 Product of the Year Awards

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LOS ANGELES, April 28, 2023 /PRNewswire/ — NAB Show, the premier media and entertainment industry event, announced Prime Focus Technologies (PFT) as a double winner of the prestigious 2023 Product of the Year Awards. NAB Show Product of the Year Award Winners were selected by a panel of industry experts in 15 categories and announced in a live awards ceremony at NAB Show. The nominated products had to come from companies exhibiting at the 2023 NAB Show and be delivered within the 2023 calendar year to be eligible for an award. 

T Shobhana, Senior Vice President and Global Head of Marketing at PFT receives the award from Eric Trabb, Senior Vice President and Chief Customer Success Officer at NAB.
T Shobhana, Senior Vice President and Global Head of Marketing at PFT receives the award from Eric Trabb, Senior Vice President and Chief Customer Success Officer at NAB.

PFT’s CLEAR® AI Reframe and CLEAR® Localize products received recognition in the Capitalize category, marking a significant achievement for the company.

“Every year, the NAB Show showcases new, groundbreaking products that have the potential to transform the media and entertainment industry,” said Eric Trabb, Senior Vice President and Chief Customer Success Officer at NAB. “The 2023 Product of the Year Awards winners have demonstrated how they can help revolutionize the content lifecycle at all stages. We congratulate PFT on their double win.”

CLEAR® AI Reframe enables content creators to automatically adapt their content seamlessly to fit various social media platforms. Meanwhile, CLEAR® Localize is an innovative solution that simplifies the localization process, allowing content owners and distributors efficiently deliver localized content to global audiences.  

“We are stocked to receive this prestigious recognition for our CLEAR® products,” said Murali Sridhar, Senior Vice President, and Global Head of Product Management at PFT. ” We understand the importance of adapting to the changing digital landscape and empowering our customers with the tools they need to succeed. These awards validate our forward-thinking approach, and we will continue pushing the boundaries of what’s possible in digital content creation and distribution.” 

To learn more about CLEAR® and CLEAR® AI, schedule a meeting with us here.

About Prime Focus Technologies

Prime Focus Technologies (PFT) is the creator of CLEAR® and CLEAR® AI. It offers streaming platforms, studios, and broadcasters transformational AI-led technology and media services powered by the Cloud that help them lower their Total Cost of Operations (TCOP) by automating their content supply chain. PFT works with major companies like Walt Disney-owned Star TV, Channel 4, ITV, Sinclair Broadcast Group, A&E Networks, Hearst Television, Warner Media, PBS, CBS Television Studios, 20th Century Fox Television Studios, Lionsgate, Showtime, HBO, NBCU, TERN International, Disney+ Hotstar, BCCI, Indian Premier League and more.

For more information, visit www.primefocustechnologies.com.  

Press Contact:
T Shobhana
Senior Vice President and Global Head of Marketing
Prime Focus Technologies
Los Angeles, CA
t.shobhana@primefocus.com

PR Newswire

Facemoji Keyboard Unveils Facemoji AI – Enabling Users to Better Express Themselves with AI-Assisted Messages

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SUNNYVALE, Calif., April 21, 2023 /PRNewswire/ — Facemoji Keyboard, the world’s first content-creation keyboard with rich in-app resources, announced today the launch of Facemoji AI, an artificial intelligence (AI) assistant that offers new ways to customize English messages. The keyboard now includes six key messaging features: Change My Tone, Smart Reply, Grammar Check, Caption Wizard, Hashtag Generator, and Smart Compose – providing users with an easier and more engaging way to communicate and express themselves.

Simplify the way you write with Facemoji AI
Simplify the way you write with Facemoji AI

“For a long time, Facemoji has helped users express themselves with our range of emoji, but with this update, Facemoji is now able to assist people in actually writing more intricate messages as well,” said Natalia Lin, Product Lead at Facemoji Keyboard. “Facemoji AI enables users who may struggle with expressing themselves to put their feelings into words and navigate potentially challenging conversations – whether it be romantic messages, friendly banter or professional communications. We’re thrilled to offer this new AI feature and are eager to expand our Facemoji AI topic portfolio to assist all users with their messaging and communication needs.”

To help users more easily express themselves, the Change My Tone feature generates messages tailored to the user’s selected tone, and the Smart Reply feature recommends quick responses based on the messages users receive. Grammar Check scans messages for grammatical errors, spelling mistakes and other language issues, ensuring that messages are polished and professional every time. For emails, the Smart Compose feature uses AI to craft thoughtful and complete messages based on a few keywords.

Available on TikTok, Twitter, Facebook and Instagram, the Caption Wizard and Hashtag Generator features enable users to create more meaningful social media posts by suggesting creative captions and proposing trending hashtags, based upon the user’s social content.

The initial version of Facemoji AI supports all English keyboard users, and each Facemoji user can use the feature up to ten times per day by simply clicking the robot icon on the Facemoji Keyboard toolbar. Facemoji is currently developing an enhanced version of the feature to support more messaging needs as well as more of its 120+ languages.

Appealing to tech-savvy individuals looking for unique ways to express themselves, Facemoji Keyboard has over 500 million global downloads and is available to users in 190+ countries and regions for free on Android or iOS. Learn more at https://www.facemojikeyboard.com/.

About Facemoji Keyboard

Facemoji Keyboard is the world’s first content-creation keyboard that allows users to find, design or invent the trendiest and smartest ways to express themselves. With Facemoji, users can fully customize their keyboard and create and share unique expressive designs, so every user can be a modern trendsetter in content creation.

PR Newswire

Weibo to Hold Annual General Meeting on May 24, 2023

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BEIJING, April 3, 2023 /PRNewswire/ — Weibo Corporation (the “Weibo” or “Company”) (Nasdaq: WB and HKEX: 9898), China’s leading social media platform, today published a notice to announce that it will hold an annual general meeting (the “AGM”) of shareholders (the “Notice of AGM”) at 5809-5810, Two International Finance Centre, 8th Finance Street, Central, Hong Kong on Wednesday, May 24, 2023 at 2:00 p.m. (Hong Kong time), for the purposes of considering and, if thought fit, passing the Proposed Resolutions set forth in the Notice of AGM. The Notice of AGM and proxy card for the AGM are available on the Company’s website at ir.weibo.com. The board of directors of Weibo fully supports the proposed resolutions listed in the Notice of AGM and recommends that shareholders and holders of ADSs vote in favor of the resolutions set out in the Notice of AGM.

Holders of record of ordinary shares of the Company at the close of business on April 21, 2023, Hong Kong time, are entitled to attend and vote at the AGM and any adjourned meeting thereof. Holders of record of American Depositary Shares (the “ADSs”) as of the close of business on April 21, 2023, New York time, who wish to exercise their voting rights for the underlying Class A Ordinary Shares must give voting instructions to JPMorgan Chase Bank, N.A., the depositary of the ADSs.

Weibo’s Form 20-F can be accessed on the Company’s website at ir.weibo.com, as well as on the SEC’s website at http://www.sec.gov.

About Weibo

Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. The Company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Designed with a “mobile first” philosophy, Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. To support the mobile format, we have developed and continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Safe Harbor Statement

This press release contains forward-looking statements. Weibo may also make forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “confidence,” “estimates” and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in Weibo’s annual report on Form 20-Fs and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

CONTACTS:
Investors Relations,
Weibo Corporation,
Tel: +86-10-5898-3336,
Email: ir@staff.weibo.com

PR Newswire

Music Licensing, Inc.’s Subsidiary Pro Music Rights Renews Agreement with ByteDance and TikTok, Offering Innovative Music and AI Solutions

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NAPLES, Fla., March 3, 2023 /PRNewswire/ — Music Licensing, Inc. (OTC:SONG) is thrilled to announce that its wholly-owned subsidiary Pro Music Rights, Inc. has renewed its licensing agreement with ByteDance and its subsidiary TikTok for another year. This milestone marks a significant achievement for Pro Music Rights and its continued efforts to provide high-quality music and innovative AI-generated music to users worldwide.

As part of the licensing agreement announced last year, Pro Music Rights has been providing TikTok with access to its vast music catalog, which includes some of the most popular songs and artists of all time, as well as AI-generated music from Pro Music Rights’ Music AI program. This partnership has enabled TikTok to offer its users a unique and engaging experience by incorporating a diverse range of music into their videos and content.

The renewal of this agreement is a testament to the success of Pro Music Rights and its commitment to delivering top-notch music and innovative AI-generated music to its partners. It further solidifies Pro Music Rights’ position as a leading provider of music licensing services in the industry. With this agreement, Pro Music Rights and TikTok will continue to work together to provide innovative and engaging experiences for users across the globe.

“We are thrilled to renew our agreement with ByteDance and TikTok for another year, and to continue to provide them with access to our vast music catalog and our innovative Music AI program,” said Jake P. Noch, CEO of Music Licensing, Inc. “Our team at Pro Music Rights is dedicated to delivering high-quality music and exceptional services to our partners, and we are proud to be working with such a forward-thinking company like ByteDance and TikTok.”

The renewal of this agreement highlights Music Licensing, Inc.’s commitment to providing innovative and cutting-edge music solutions to its partners. With Pro Music Rights’ vast music catalog, exceptional licensing services, and its innovative Music AI program, the company is well-positioned to continue to be a leader in the music industry.

About Pro Music Rights, Inc. (ProMusicRights.com)

Pro Music Rights is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBaggYo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Fall Out Boy, and countless others, as well as Artificial Intelligence (A.I.) Created Music.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

Source: Music Licensing, Inc.