YY
Type of site
Online chat, streaming media
Available inChinese, Vietnamese
Traded asNasdaq: YY
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 (Nasdaq: YY), 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

  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. {{cite web}}: |first= has generic name (help)
  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.
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