http://socialnetworkingnews.org/chinese-social-network-momo-soars-in-nasdaq-debut/
Three months after Chinese e-commerce giant Alibaba pulled off the largest tech IPO of all time, another Chinese tech venture — and Alibaba portfolio company — scored big in its stock market debut.
Momo, a Chinese social network and dating platform, finished its first day of public trading at over $17 a share — up more than 26 percent from its IPO price. It’s current market cap: $3.2 billion. Not bad for a company that’s not yet profitable and has recently been troubled by allegations of misconduct and corruption against its CEO.
Source: recode.net
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