YY
- JOYY Inc.
()
Overview
Company Summary
JOYY Inc., known as YY, is a popular Chinese social media platform that primarily focuses on live streaming services. Established in 2005, YY has grown to become one of the leading social media companies in China.
The core business of JOYY Inc. revolves around connecting users through its online social platform, which allows individuals to stream live videos, engage in real-time communication, and participate in interactive activities. The platform attracts a diverse range of content creators, including singers, gamers, dancers, and other performers who showcase their abilities to millions of users.
YY's live streaming feature enables users to express themselves, interact with each other, and build communities around shared interests. Users can watch live performances, leave comments, send virtual gifts, participate in interactive games, and even engage in video chat with their favorite performers. These interactions create a dynamic and immersive social experience for users.
To monetize its platform, JOYY Inc. generates revenue primarily from the virtual gifting system. Users can purchase virtual gifts, such as virtual flowers or diamonds, which they can then send to the content creators during live streams as a form of appreciation. The company takes a cut from these virtual gift purchases, providing a source of income for both the content creators and the platform itself.
In addition to live streaming, JOYY Inc. also offers a range of other services. The company has expanded into online education, providing English language learning courses through its subsidiary, VIPKid. It has also ventured into online dating and matchmaking through its subsidiary, Momo.
Overall, JOYY Inc. is a technology-driven company that connects people through live streaming, fostering engagement and community-building while offering various entertainment and interactive experiences.