Fortune Magazine has just announced the 100 Fastest Growing Companies 2019. And on top of it is China’s Momo. The social media app tops the list, dominating other rivals and bigger companies.
The companies in the list must be trading on a US stock exchange. They also need to have a market cap at least $250 million. Fortune takes accounts of earnings per share (EPS) growth rate, revenue growth rate, and three-year annualized return.
At the very top, Momo shows its presence with a 141% annual growth rate of revenue in the last three years. Its EPS annual growth rate for the last three years recorded at 193%. The company revenue and growth rank first and second respectively. It recorded a 53% total annual return for 3 years, ranked 14th.
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The Beijing-based company beats out other tech companies from America. Including Netflix, Nvidia, Amazon and Facebook which each ranks fifth, seventh, 11th, and 12th, respectively.
Not only American companies, China’s Momo also beats out its local rival. For instance, Sina, the country’s oldest internet companies that provides news portal, ranks at 85th place. Meanwhile Weibo, also an affiliation of Sina, rans only 13th.
Not surprisingly, China’s Momo recorded a very impressive net revenues in the first quarter of this year. It increased by 35% year on year to $554.7 million. On the other hand, Sina only experienced a 8% growth year on year with $475.1 million. While Weibo reported a 14% year-on-year growth at $399.2 million in the same period.
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China’s Momo: a dating app with a big twist
Momo started off back in 2011 as a dating app. It match people according to location and interest. Slowly, it added many features including detailed profile similar to Facebook to match people better. Then it has chatting feature, group chat, even a game within the app.
By March 2019, it recorded a 114.4 monthly active users, 11.1 million more than the same month the previous year.
