YY.com

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YY
YY logo.png
Type of site
Online chat, streaming media
Available inChinese, Vietnamese
Traded asNASDAQYY
OwnerJOYY
URLwww.yy.com
RegistrationOptional
Launched2012
Current statusActive

YY is a major Chinese video-based social network, a subsidiary of JOYY.[1] It has over 300 million users. It features a virtual currency which users earn through activities such as karaoke or creating tutorial videos and which is later converted to real cash. Launched in 2005 as duowan.com (NASDAQYY), it originally targeted gamers, before broadening to include video streaming and chat features for uses such as concerts, fashion and sports. Users exchange "virtual roses" as a form of currency, with top users said to earn as much as $20,000 per month.[2][3] In November 2012, YY was listed on the NASDAQ.

The website was originally known as YY Voice (Chinese: 语音). On 24 November 2014, YY's video streaming service began operating independently as Huya Live.[4][5]

On 18 November 2020, MuddyWatersResearch released a report claiming fraud in the financial and public reporting of JOYY Inc. [6][7][8] leading to a significant decrease in the value of its shares.

References[edit]

  1. ^ Fool, Contributor Leo Sun The Motley. "Tencent Gains Control of Huya: What Does This Mean for JOYY?". www.nasdaq.com. Retrieved 30 June 2020.
  2. ^ Leydon, Joe, "Film Review: ‘People’s Republic of Desire’ : Documentarian Hao Wu examines a unique form of digital interaction in contemporary China.", Variety, 15 March 2018
  3. ^ "YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist". Forbes. 11 June 2012. Retrieved 21 November 2012.
  4. ^ 种昂 (1 February 2018). "虎牙直播改道上市 背后玄机引发业界猜疑". 经济观察网 (in Chinese). Retrieved 27 February 2018.
  5. ^ "呕心沥血经营这么久的虎牙直播,YY还是把它给卖给了腾讯!" (in Chinese).
  6. ^ "MW is Short Joyy Inc. (YY US)". Muddy Waters Research. Retrieved 19 December 2020.
  7. ^ "Why Carson Block Says China's Joyy Is a 'Fraud' and a 'Zero' - YouTube". www.youtube.com. Retrieved 19 December 2020.
  8. ^ "JOYY Refutes Muddy Waters' Report | JOYY Inc". ir.yy.com. Retrieved 19 December 2020.

External links[edit]