Momo, Inc. (MOMO) IPO Opens Up Nearly 6%

Today's IPO for Momo, Inc. (NASDAQ: MOMO) opened for trading at $14.25 after pricing 16,000,000 American depositary shares ("ADSs") at US$13.50 per ADS, the middle of the expected $12.50-$14.50 range.

Morgan Stanley & Co. International plc, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and China Renaissance Securities (Hong Kong) Limited are acting as joint bookrunners for the offering.

Momo Inc. (Nasdaq: MOMO), a spin-off from Alibaba (NYSE: BABA), is one of China's leading mobile social networking platforms. Momo connects people in a personal and lively way through a revolutionary mobile-based social networking platform. With powerful and precise location-based features, Momo enables users to connect with each other and expand relationships from online to offline. Momo's platform includes the Momo mobile application and a variety of related features, functionalities, tools and services that it provides to users, customers and platform partners. In September 2014, Momo had 60.2 million monthly active users and an average of 25.5 million daily active users. Leveraging its social interest graph engine and analysis of user behavior data, Momo is able to provide users a customized experience based on their social preferences and needs. Momo users can maintain and strengthen their relationships through private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on Momo's platform.

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