陌陌刚IPO融资$2.32亿，收盘$17大涨26%。被网易指控唐岩竖中指

约炮APP陌陌刚在纳斯达克IPO(NASDAQ:MOMO)，开盘$14.25美元，较发行价13.5美元上涨5.56%，最高融资2.32亿美元。收盘$17，大涨26%。同时，网易股票(NTES)也大涨4.37%。看来，除非滔天罪行被判刑，否则网易和陌陌控辩双方最后也只是提高了投资人的关注度和自己的知名度。

陌陌赴美上市前夕，该公司创始人CEO唐岩却突然遭遇前雇主网易公司指责：唐岩自2003年12月至2011年9月期间在网易工作，在职期间，利用职务之便，获取网易提供的各种信息、技术资源，私创“陌陌”。利用公司对其信任，向其妻的广告公司输送上百万元经济利益。还因个人作风问题于2007年被中国警方拘留10日。作为网易高级员工，唐岩未就此事向公司如实通报。这些指控，如果陌陌上市前没有披露适当，可能会迎来投资者的集体诉讼。陌陌唐岩是如果反应？请看图片里唐岩（向丁磊）竖中指！？

网友问我是否认识丁磊，我以前去过丁磊广州办公室，聊了一个多小时，他没有板凳，站着工作健康。他以前都是背上背包单自出行，我也喜欢这样。我没见过唐岩，也只认识一位广州沙龙来宾是陌陌的忠实用户，除此以外我不认识任何陌陌用户，可能我的圈子不是KTV约炮的圈子。就好像可能我不是玩网游的圈子，所以也不认识任何YY的用户。

英文有这句：Sex Sells 色情卖座！人性就是如此，还是要感谢我党，色情以外其他都被打压了。>>@一棵行走的树orchid:虽然此时撕逼，但只要有利益牵扯，又会和好如初。这就是商人的世界。无限秀下限。>>@jack_cl:说是诠释了企业文化>>@猎蓝网招聘:网陌这是赤裸裸的绯闻营销啊>>@设计师辰昊:公众人物当着媒体竖中指？

陌陌开盘价14.25美元 较发行价上涨5.56%

　　新浪科技讯  北京时间12月12日凌晨消息，陌陌今日在纳斯达克正式挂牌上市，股票代码为“MOMO”，开盘报价为14.25美元，较发行价13.5美元上涨5.56%。

　　陌陌在11月8日向美国证券交易委员会提交了招股书，启动赴美上市。11月底，陌陌确定IPO发行价区间为12.50美元至14.50美元，计划公开发行1600万股美国存托股(ADS)。以发行价上限14.5美元计算，陌陌本次IPO最高融资2.32亿美元。摩根士丹利、瑞士信贷、摩根大通和华兴资本担任此次IPO的承销商。

　　陌陌还在IPO中授予承销商240万股ADS的超额配售权。如果承销商完全行使超额配售权，本次IPO的最高融资额将达2.668亿美元。

　　另外，陌陌将在IPO时向阿里巴巴和58同城分别定向增发5000万美元和1000万美元的新股，增发价格与IPO发行价相同。

　　在IPO后，陌陌创始人唐岩将持有该公司26.3%的股权和78.0%的投票权。IPO前，唐岩是陌陌最大控股股东，占股达到39.8%；阿里巴巴是陌陌的最大机构股东，占股20%，经纬创投紧随其后占股19.9%。


陌陌上市前夕CEO遭网易指责
2014-12-10 腾讯科技

就在陌陌赴美挂牌上市前夕，该公司创始人、CEO唐岩却突然遭遇老东家网易公司的非难，被指没有职业操守并存在个人作风问题。

陌陌将于美国东部时间12月11日在纳斯达克交易所挂牌上市，发行价12.50至14.50美元，按中间值计算，预计陌陌将从本次IPO中融资约2.6亿美元。在这紧要关头，其创始人唐岩的人品却遭网易的指责，着实出人意外。至于是否会影响上市进程，目前还不得而知。

网易公司今早发布的声明称，唐岩自2003年12月至2011年9月期间在网易工作，在职期间，利用职务之便，获取网易提供的各种信息、技术资源，私创“陌陌”。此外，唐岩作为网易前总编辑，利用公司对其信任，向其妻（张思川）做创始人的四度(北京)广告有限公司输送上百万元经济利益。

网易还指责称，唐岩在网易工作期间，还因个人作风问题于2007年被中国警方拘留10日。作为网易高级员工，唐岩未就此事向公司如实通报。

声明最后指出，网易公司保留对唐岩在网易工作期间全部不当行为追究法律责任的权利。

有美国投资公司人士对腾讯科技表示，该公告对陌陌在美国的上市影响，可能要看指控方的可信程度如何，但网易目前在美国投资界的口碑比较不错。

公开资料显示，唐岩从网易离职的时间是2011年9月9日。当天，网易在内部宣布，网易总编辑唐岩离职创业。

在媒体当时的报道中，唐岩的离职稍显突兀，因为同年4月19日，网易才宣布任命原新闻中心总监唐岩为网站部总编辑。此时距唐岩任职总编辑职位还不足5个月。

离职消息公布后，唐岩的创业方向也随即公开：专注于据称已经是国内第二大移动陌生人交友平台——“陌陌”的创业。

从陌陌的公开消息来看，陌陌的正式上线时间为2011年8月3日。从这点来看，在尚未正式离职前，唐岩已经投入到了陌陌创业中。

唐岩加入网易的时间是2003年，在被任命总编辑之前曾担任网站部副总编辑，主管新闻、财经、娱乐和体育等内容资讯中心。除此之外，唐岩还曾担任网易评论频道主编、奥运频道负责人以及新闻中心总监。

以下为声明原文：

网易公司对前员工唐岩（陌陌公司创始人、CEO）在网易工作期间不法行为做出正式声明：

1、唐岩自2003年12月至2011年9月期间在网易工作。2011年7月，唐岩擅自在外开设陌陌公司谋取私利。唐岩在职期间，利用职务之便，获取网易提供的各种信息、技术资源，私创“陌陌”，从而窃取网易公司商业利益，丧失基本职业操守。其行为违反《劳动合同》及对公司做出的在职期间竞业限制的承诺，严重违背职业道德。

2、唐岩作为网易前总编辑，利用公司对其信任，向其妻(张思川)做创始人的四度(北京)广告有限公司输送上百万元经济利益。此行为涉嫌非国家机关工作人员腐败，严重损害网易公司权益。

3、唐岩在网易工作期间，还因个人作风问题于2007年被中国警方拘留10日。作为网易高级员工，唐岩未就此事向公司如实通报。目前，网易公司正在对此事件进行调查。

陌陌创始人唐岩丧失职业操守、利用职务之便实施利益输送行为，对其工作8年的网易公司造成了名誉损失与商业损失。网易公司保留对唐岩在网易工作期间全部不当行为追究法律责任的权利。特此声明。

网易公司
2014年12月10日


这才是丁磊唐岩撕破脸皮的真正导火索
2014-12-11 微才讯

丁磊，唐岩，这两个年龄相差8岁的中年男人在网易交集后又离开，移动互联网领域入口争夺以及背后巨头的矛盾，终让这二人曾经的温情脉脉不复存在。

在陌陌赴美上市前夜，网易公司递出神补刀，发表声明称陌陌公司创始人、CEO唐岩在网易工作期间存在不法行为，丧失职业操守、利用职务之便为其妻子所在公司输送利益，并且还因个人作风问题于2007年被中国警方拘留10日。

针对这些指控唐岩当年的上司、网易门户前总裁李勇做出了回应：关于唐岩向四度公司输送利益，我任职期间网易公司即有过正式调查，结论并不成立。另一位当年的当事人则表示当年网易门户设计了“有态度”这个品牌形象，要制作宣传资料但又没有太多预算，唐岩就找自家人的四度公司解决了这件事。

丁磊治下的网易被业内称为黄埔军校，早年有梁均和关国光，后来游戏有徐波、云风、陈伟安、詹钟晖等，门户则有李学凌、李甬、方三文、唐岩等，创立的有多益、多玩、雪球财经、陌陌、春雨医生等。但看着昔日的手下纷纷风生水起，依然固守游戏行业的丁磊却不甘于用“黄埔军校”做网易的品牌形象。

唐岩或许只是枪口中第一个对象。
不同的起点
1993年，未来的中国首富丁磊毕业于电子科技大学，经过三次跳槽后于1997年创办网易公司。3年后，网易在纳斯达克股票交易所正式挂牌交易。2001年底，网易推出《大话西游》，将精力集中到在线游戏的网易于2002年第二季度首次实现净盈利，股票开始领涨纳斯达克。

唐岩出生于1979年，在湖南的一座小城中长大，在一所普通大学学习建筑。2002年年底唐岩来到北京，和此时风生水起的丁磊相比，唐岩的事业才刚刚起步，在他看来月收入1万已经是个天文数字。

2007年，丁磊的个人财富跃上50亿元人民币的台阶。这个创富速度在中国堪称史无前例，而此时的丁磊年仅32岁。与此同时，唐岩也开始了自己的好生活：上有上司李勇、方三文，下有一群得力的小弟，这群小团伙过着隔三差五相约吃饭打牌的好日子。这个小团伙里没有丁磊的存在，据那时候供职网易的员工表示，唐岩和丁磊的交情并不算深。或许在江湖气颇浓的唐岩看来，丁磊和自己并不在同一世界。

就在去年年底，已经成为陌陌创始人，拥有上亿身家的唐岩还因为打车跟另一个男人在世贸天阶门口进行武斗。这样的急脾气和丁磊的性格背道而驰，丁磊在中国互联网圈内是出了名的慢脾气，不扎堆。在互联网这样一个飞速发展的行业里，丁磊错过了移动社交、电子商务、O2O、搜索、移动应用分发、手机游戏及手游渠道等以及所有能够想象的机会。

作为唐岩在网易时的前上司，猿题库创始人李勇曾这样评价他：他热爱社会生活，热爱“升级”，物质、地位、财富从不掩饰，正是这一点令他始终生机勃勃。而认识唐岩十几年，把他从湖南小城带到北京的老朋友黄章晋则更加直接：唐岩还在青春期，荷尔蒙还在分泌。

这样的性格矛盾看似无可调和，实际上唐岩和丁磊也从来没有所谓的蜜月期。
执掌门户

从2003年初进入网易，到最终以总编辑身份离开，唐岩在网易的历史上留下了如此的记载：在被任命总编辑之前曾担任网站部副总编辑，主管新闻、财经、娱乐和体育等内容资讯中心，还曾担任网易评论频道主编、奥运频道负责人以及新闻中心总监。

这段缘分开始于2002年，该年原中青在线的李方受命筹备网易北京站，他让黄章晋推荐人选。黄章晋想起了自己的远方网友唐岩，来到网易后因为非科班出身，唐岩没有常规的写作套路的限制，这也让其迅速在网易站稳脚跟。但此时的唐岩没有想到，在未来的一天他会成为网易的总编辑，更没有想到未来会离开网易独立创业。

在一些网易老员工的描述中，唐岩是一个忠实有执行力的下属，但没有野心，也不想往上爬。而在李勇以及李学凌、方三文等领导口中，唐岩最强的能力在于抓住关键，可以在纷繁的事务中不做无用功。李勇曾经表示，在艰苦复杂的战争中，唐岩是能让他睡得着觉的那一个。

快意恩仇的岁月很快过去，2010年3月，网易副总编方三文离职创业。这给在网易呆了八年，一度认为可以做到退休的唐岩带来了强烈冲击：曾经的带头大哥们纷纷出走，我该怎么办？第二年3月，唐岩也提出离职，但在去西班牙出差时，他却获知自己被升为总编辑。网易方面的公告称，经过此次人事调整，唐岩接下来将负责主持网站部各项工作，并向李勇汇报。

李勇在今天的声明里回忆了那段复杂的历史，简述如下：当年春节后，唐岩提出离职，被李勇挽留，在挽留无望的情况下希望唐能够继续工作一段时间直到完成交接，在这段时间里唐可以利用业余时间开展创业。唐岩的两个同事先后辞职，而暂时留下来扛大旗的唐岩则与五个月后正式离开网易，其职位由时任网易副总编的赵莹接管。

在李勇的描述以外，故事还有另一个版本。有传言称唐岩在网易时曾萌生做一款移动社交产品的想法，当唐岩带着这款产品的思路向丁磊要一些前期投入时，开价是100万美金，丁磊觉得不值得投入，这款产品也就作罢了。这最终导致了唐岩的离开，以及日后陌陌的诞生。

后面的版本听起来似乎可信度更高，曾有资深媒体人向笔者描述：“门户就是老板手里走夜路时候的小棍，不一定能起作用，但必须得有。”这形象的描述了门户在网易和丁磊心中的地位，一直以来丁磊本人对门户的创新“既不支持，也不反对”。

在极其现实的丁磊眼里，变现能力最强的游戏才值得关注，一度网易整体收入的90%都来自游戏。从2004年开始，网易对门户事业部的高管，就没有过任何期权奖励。不受到重视的门户开始萌生属于自己的力量，在几大门户里，网易一直被视为特立独行，也被看为小王国。在这段时间里有人不避嫌把网易单子给了亲属的公司，还有先创业、融资再离职。这样的结果是丁磊更加不信任门户，自然就有更多人离职创业。在网易门户离职潮最频繁的岁月里，不到两年时间内网易门户共有7名副总编级以上高管离职创业。

但无论原因是什么，在唐岩离开时，一切看来还很和谐，在离开时网易发布内部邮件称如下：
致门户全体同事
网站部原总编辑唐岩先生因选择个人创业申请离职。即日起原属唐岩负责的网站部业务，由网站部副总编辑赵莹女士代理。
唐岩先生于2003年加入网易，曾担任新闻频道主编、奥运频道主编、新闻中心总监、副总编辑、总编辑等职务。尤其在打造“有态度的门户”方面，唐岩发挥了不可替代的作用。在此感谢唐岩的贡献，预祝他未来事业成功，开创美好的未来。

事情的背后却暗藏杀机，有消息显示在唐岩在职期间，丁磊就已经对其的一些行为展开调查，包括输送利益以及唐岩的私下朋友往来。

唐岩并没有意识到炸弹已经埋下，而这个炸雷终将到来。
移动之争
2011年8月，当时还是网易总编辑的唐岩拉着网易门户产品组长雷小亮、网易技术员李志威创办陌陌科技，推出社交软件“陌陌”，这是当时国内第一款基于地理位置的陌生人社交产品，同时加入的还有网易的编辑王力。

在媒体看来，这不过是网易创业大军中的普通一员，但陌陌确实展现出了非比寻常的一面。2011年冬，陌陌科技搬至位于霄云路18-22号的两层别墅。2012年3月9日，上线八个月的陌陌，用户数突破200万；很快用户量每月成百万增长，到8月已经超过1000万。而9月初，其日活跃客户已达270万名。

随后有丁磊的内部邮件爆出，在其看来现在几个同类产品，微信5分，陌陌4 分，易信0分，来往负分，接下来易信做的东西最少要到6分。这些话显示出丁磊对陌陌的赞赏以及内心深处的一丝骄傲，虽然易信暂时不如陌陌，但在未来易信不仅要超过陌陌更是要超过微信。

丁磊的即时通讯梦想开始于2003年，当时推出的网易泡泡利用“挂泡泡送短信”的大规模促销活动历时一年时间发展了1500万注册用户，最高同时在线人数达到了50万。但是，当2004年底活动结束之后，泡泡停止了增长，今天的网易泡泡早已沦为网易内部的通讯工具。

在丁磊看来，易信将成为网易移动互联网转型的最关键环节。不过易信的起步实在太晚，经过发布初期的大力推广之后，就像当年的网易泡泡一样归于沉寂，除了网易内部员工，易信在市场上也几乎没有声音。

而陌陌却已经无法击败了，至2014年9月30日，陌陌的注册用户为1.8亿，月活跃用户达到6020万，日活跃用户数量达到2550万。今年11月8日，陌陌递交招股书，拟最高融资3亿美元，计划在纳斯达克交易所挂牌上市，股票交易代码为MOMO。

这样的发展速度让丁磊不太舒服，更何况在陌陌的发展过程中，还引入了阿里成为最大的机构投资者，这让丁磊感到愤怒。或许是因为同样来自杭州，又或许是传闻中因为收购雅虎中国而让网易损失了大笔收入，这都让曾经的挚友丁磊马云反目成仇。圈内很多人都知道，在网易几乎没有阿里的正面报道。

唐岩、移动社交、马云……这些关键词最终让丁磊出离愤怒，当年埋下的炸弹在最关键的时刻和地点产生了巨大的作用。

在事情爆发后，陌陌得到了众多网易前员工的力挺，这或许是一种隐忧，在未来会不会有更多“唐岩”出现？

在YY上市后，只有网易科技频道一字未提，李学凌在私下对媒体表示：“这有什么的，一点也不奇怪，这么多年了，我也没希望过他改变什么，他要真不这样了，那丁磊也就不是丁磊了。”今年11月，网易发布公告指责欢聚时代擅自直播《梦幻西游2》， 两家关系正式破裂。几个月前网易游戏事业部副总经理魏剑鸿创办的游戏公司“擎天柱”则遭到了警方查处，魏剑鸿本人被警方带走协助调查，有传闻称因魏剑鸿带走了《大话西游》的源代码被网易举报。

随着网易离职创业者人数增多，有分析认为丁磊在陌陌上市前夕爆料或为杀鸡儆猴。到目前为止，网易首页、网易新闻首页、网易科技频道首页都没有关于此事的报道。

来源：腾讯科技
作者：newsadmin


Founder Accused Ahead Of Alibaba Backed Momo’s IPO: Theft, Graft, Indecency?!

http://blogs.barrons.com/asiastocks/2014/12/11/founder-accused-ahead-of-alibaba-backed-momos-ipo-theft-graft-indency/
December 11, 2014

Momo (MOMO), China’s third largest social messaging app after Tencent‘s (TCEHY) WeChat and Mobile QQ, is set to start trading on Nasdaq today.

Momo has set its IPO price at $13.5 per ADR, slightly to the left of the indicative range of $12.5-14.5. Momo issued 16 million ADR shares and has raised $216 million.

According to the company’s filings with the SEC, founder Yan Tang holds 39.9% of the shares outstanding. Alibaba Group (BABA) is the second largest outsider shareholder, with 20.7% of the stake. As with other young Internet companies, Momo has dual-class share structure too. Yan Tang has 78% of the voting rights, whereas Alibaba gets only 6.1%. Alibaba will buy another $50 million worth of shares during this IPO.

Perhaps stirring investor sentiments, a day ahead of the IPO, Internet portal NetEase (NTES) accused Yan Tang, who used to an employee there, of theft, graft and indent behavior. Yan Tang worked at NetEase between December, 2003 and September, 2011.

According to NetEase, Yan Tang founded Momo in July, 2011, while still an employee there. “Yan used his position to obtain all sorts of information and technical know-how from NetEase, and stole NetEase’s commercial interests.” (A rough translation from this blogger.)

In addition, NetEase claimed Tang awarded lucrative contracts worth over a million yuan to an advertising company founded by wife, a conduct that is equivalent to “corruption of non-governmental personnel.”

And here is the best part. According to NetEase, Tang was detained by the Chinese police for 10 days in 2007 for “indent behavior.” This sounds all strange, but “morality” is important in China. Last week, China’s ex- security chief Zhou Yongkang was officially arrested for corruption, leaking state secrets (an easy offense there) and – no kidding – fornication.

This character assassination is coming at an unfortunate time. Momo can’t make any counter arguments during this quiet period. China’s Netizens are wondering today if NetEase’s claims would affect Momo’s trading today.

Regardless, Momo is expensive. At $13.5 per share, Momo is set to be valued at $2.7 billion. In the first nine months this year, Momo generated only $26.2 million in revenue and is still in the red.

China’s Internet names have not been doing well in December. Shares of Alibaba have fallen from its 7% this month. NetEase declined 8.6%.


Opinion: Chinese social app Momo is an IPO with mojo
http://www.marketwatch.com/story/chinese-social-app-momo-is-an-ipo-with-mojo-2014-12-10?page=2

Alibaba support boosts fast-growing startup
Memo to “momo” investors: Your next hot momentum stock might be Momo, an extremely popular Chinese social networking and dating platform.
Momo is practically designed for you because it’s likely to burn up the charts after it starts trading in the U.S. on December 11.
What will give Momo MOMO, +26.07%   its momo?

1. User growth is phenomenal: The popularity is reminiscent of Facebook FB, +2.03%   in its early days.

2. Sales growth has been solid:. And there’s room for much more. That’s because Momo has lined up a key ally in Alibaba Group Holding BABA, +1.05%  , the Amazon.com AMZN, +0.50%   of China. This alliance is going to help Momo build big ad revenue in the years ahead, as will Momo’s own efforts to woo merchants.

Be warned, though. Momentum stocks can take as much as they can give. And Chinese social networking stocks have a nasty habit of disappointing investors. Given this history, there’s a good chance Momo may trade below its initial public offering price after a flurry of interest that lasts a few weeks or months.

But first, what is Momo? Founded in 2011, Momo is a mobile instant messaging app that allows users to post profiles and pics. Think SnapChat meets Match.com meets Facebook. A key feature, which no doubt makes this a great dating and “hook up” app, tells users when others with “common interests” are nearby. Users also meet in groups and on message boards. Momo offers games as well.

The app is free. But users can upgrade to get “VIP logos,” advanced search, and the right to follow more users, for $18 a year.

Here’s why Momo should be a hot stock:

1. High profile investors: Momo has a key backer in Alibaba, the popular Chinese online shopping site whose U.S. listed stock is already up 18% from where it first traded in September. Alibaba will have a 20.4% stake in Momo, after the IPO. With no social networking platform of its own, Alibaba is keen to line up allies against Tencent Holdings 0700, +0.71%  , which has the two largest social networks in China, WeChat and Mobile QQ. (Momo is third.) An Alibaba co-founder and one of its top managers are on Momo’s board.

Other prestigious investors include venture capital shops Matrix Partners (17.7% stake) and Sequoia (5%). Names like these make Momo a coattail rider’s dream. A Chinese online marketplace called 58.com Inc. WUBA, +4.25%   has a smaller stake.

2. Hot growthYou can see why these high profile investors are taking big stakes: Momo has shown tremendous growth. Momo catapulted into third place among Chinese social networks in just three years. In the past year, it has seen 161% growth in registered users, to 180 million, 113% growth in monthly active users, to 60 million, and 141% growth in daily active users, to 26 million. The company has about 2.3 million paid subscribers, up from 300,000 a year ago.


“They have gotten a substantial user base really quickly, and that kind of track record will help people buy into future growth,” says William Preston, an analyst with Renaissance Capital, which manages the IPO-driven exchange traded fund Renaissance IPO ETF IPO, +0.45%  . Momo users send more than 650 million messages a day, and are on the app for more than a half hour a day, on average.

Mobile Internet usage is ramping up quickly in China, a trend that makes Momo one of those emerging markets, emerging middle-class plays you hear about.

A key factor that will drive investor interest: High-growth messaging apps command huge valuations, Preston points out . Facebook bought Instagram in 2012 for $1 billion, when Instragram had 30 million users, and paid $19 billion for WhatsApp when it had 450 million users. “Clearly there is a lot of value in these services that have a huge user base,” Preston says. For context, Momo will have a market cap of roughly $3 billion in the U.S., depending on where its shares end up on that first day

3. Plenty of room to extract profits : Momo got most of its $29 million in revenue in the past 12 months from subscription fees and game-related revenue. But soon, advertising will take over, and here the Alibaba alliance is key. Alibaba will drive its merchant-partner’s ads to Momo, which will share the revenue. The same will happen with 58.com. And Momo is also signing merchants on its own.

To see where all this could go, consider a social networking metric called revenue per user per quarter (RPU). Facebook’s Asia side and Twitter TWTR, +0.96%   have an RPU in the $1-$1.20 range. In contrast, Momo’s RPU is at 20 cents, Preston says. “They are going to make the case that they will have $300 million to $500 million revenue in three to four years,” he adds.

Momo’s ability to know where users are, and its knowledge of their interests and habits, will help it target advertising.

Risks
As good as Momo sounds, there are plenty of things to worry about.

First, there’s the “MySpace problem.” As popular as Momo is, there’s no guarantee it won’t fall by the wayside, like MySpace. Momo competitors WeChat and QQ.com have both launched a location-based feature, and they’re both free. Momo’s monthly average user growth slipped to 6.8 million in the third quarter, from 10 million in each of the first two quarters of this year, Preston points out. Maybe this is a blip; maybe not.

Next, Momo gets a quarter of its revenue from games, where a company is only as good as its last hit, and hits are elusive. The company has a big score with Momo Craft, a game that lets players compete for domination of castles in a fictitious kingdom. But will it have a follow through? If not, there could be damage.

For example, Zynga ZNGA, -1.59%  ) zinged investors when the company had little follow-through after blockbusters FarmVille and Words With Friends. Zynga stock now trades for $2.50 compared to $10-$16 right after its 2011 IPO.

And the heavy hand of the Chinese government is always lurking, points out Tom Taulli, an IPO expert and early-stage tech investor. The government shut Instagram when Hong Kong demonstrators used it to protest China’s influence over local elections. How does anyone know the same won’t happen with Momo? “There’s a level of uncertainty about what’s going on with free speech in China and where that’s going,” says Taulli. As Momo concedes in its “risk factors” in filings, Chinese social networking apps are banned from showing content the government considers “socially destabilizing,” and the consequences of violations can be dire.

These concerns show why profits in Chinese social media networking stocks can be elusive. Renren RENN, +1.16%  , a Chinese version of Facebook, traded in the $12-$16 range when it floated shares in the U.S. in mid-2012, but recently goes for around $2.60. Social platform Weibo WB, -1.25%  did well then retruned to its IPO price. Youku Tudou YOKU, -0.34%  , a kind of Chinese YouTube, at $18 a share has gone nowhere in the past three years. “They shoot up and then come back down,” Taulli says.

Still, Alibaba’s presence in the mix with Momo, as a large shareholder and partner, may offer downside protection for Momo stock. Says Taulli: “There is probably a floor for the stock, because if it goes too low there will be rumors that Alibaba will buy it out.”


Momo shares shrug off corruption allegations against CEO in debut
* Shares rise as much as 16 pct, valuing company at $3 bln
* Offering of 16 mln ADS priced at $13.50 per share (Adds debut details)

Dec 11 (Reuters) - Shares of Momo Inc, a Chinese mobile chat app firm backed by Alibaba Group Holding Ltd , rose as much as 16 percent in their U.S. debut, shrugging off allegations of misconduct and corruption against the company's CEO.

Momo's shares touched a high of $15.68 on the Nasdaq, valuing the company at about $3 billion.
The company's CEO and co-founder Tang Yan faces allegations of stealing information and technology from his former employer, NetEase Inc.
Momo said on Wednesday that Tang, who has a controlling stake in the company, would fight the allegations.
"Mr. Tang has informed us that he believes the allegations are malicious and intends to vigorously defend himself against them," Momo said in a filing with U.S. regulators.

Tang worked as a senior executive at NetEase from 2003 to 2011.
The company, however, warned that the allegations could have an impact on its operational expenses and brand.

Alibaba, which has a 20 percent stake in the company, said there was no merit to claims against Momo's CEO.
"Momo is a young growing company and Alibaba Group fully supports its management team," an Alibaba spokeswoman said.
Momo, which says it is China's third-largest social media platform, helps users find friends based on their location and exchange messages, pictures and videos through its app.
With monthly active users (MAU) of 60.2 million in September, Momo's app trails Chinese Internet conglomerate Tencent Holdings Ltd's WeChat and Mobile QQ.

Momo's revenue comes mainly from membership subscription fees. The company, which has marketing agreements with Alibaba and 58.com Inc, also generates revenue through advertisements, mobile games and paid emoticons.
Alibaba will buy $50 million of Momo's Class A ordinary shares in a concurrent private placement.
Venture capital firms Matrix Partners and Sequoia Capital also hold shares in Momo.
Momo's revenue jumped to $26.2 million in the nine months ended Sept. 30, from $817,000 a year earlier. Its net loss widened to $22.9 million during the period from $6.3 million.

The company raised $216 million from its initial public offering of 16 million American depositary shares.
The offering was priced at $13.50 per share, the midpoint of the expected range of $12.50-$14.50.
Momo said it plans to use the IPO proceeds for marketing and research.
Morgan Stanley, Credit Suisse and JPMorgan were among the underwriters.


同时，美国又一家律所要调查聚美优品。这一切都是中概股风暴来临的先兆？

美国又一家律所要调查聚美优品
腾讯科技12-11 09:31

腾讯科技讯 12月11日，美国律师事务所Glancy Binkow & Goldberg LLP周三宣布，该公司正代表聚美优品（纽交所证券代码：JMEI）投资人的权益，对该公司是否违反联邦证券法规一事展开调查。该律师事务所的调查，主要集中在聚美优品的业务和财务表现及预期上。
聚美优品是一家中国大陆的化妆品在线零售商。Glancy Binkow & Goldberg LLP的调查与聚美优品在2014年9月19日发布公司第三季度未经审计财报相关。这家公司当日发布了令市场失望的截至2014年9月30日的第三季度财报。财报显示，聚美优品当季成交总额同比仅增长31.4%，至2.73亿美元，为该公司记录在案的增长速度最慢的一个季度。
此外，聚美优品毛利润所占总净成交总额的比例降至22.0%，低于上年同期的25.9%。聚美优品对此解释说，“这主要是由于推广活动增多，导致相对更高的价格折扣，以及美容产品销售向日用品销售的扩张，带来了更高的增值税。”在今年5月进行首次公开招股之后，聚美优品股价曾创出39.45美元的最高股价，但是至2014年12月9日，该公司股价已经跌至15.08美元。
本周二，美国股东权益律师事务所Johnson & Weaver.LLP周二宣布，该公司正在对聚美优品及部分公司高管是否违反美国联邦证券法进行调查。Johnson & Weaver的调查，旨在确定聚美优品发布的关于公司业务、前景和供应商的声明，是否存有虚假及误导行为。
聚美优品股价周三在纽交所常规交易中下跌0.26美元，较上一交易日下跌1.72%，报收于14.82美元。过去52周，聚美优品最低股价为14.40美元，最高股价为39.45美元。该公司股价周三盘中最低至14.40美元，再创上市以来的新低。（无忌）