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Tagger app
Tagger app




So perhaps the association with Facebook was at least partly responsible for the stock’s rally, which actually began with an 11% jump the day before the announcement, and continued with another 15.8% gain the day the results were disclosed. He added the app now in development could go live to Middle East users early as the first quarter of next year. “Long before the metaverse concept began trending this year, our team was researching new types of social networking opportunities to provide users with a higher level of freedom and more immersive social experiences,” Chairman Yang Tao said. But it teased a new upcoming product in its latest earnings announcement, saying it was “working on a cutting-edge social app, which will feature the first-ever social metaverse.” It elaborated a bit more on its earnings call, though without giving too much away. The company currently does most of its business by offering voice-chat apps similar to Clubhouse’s, as well as online games. giant said better reflects its vision of a future “metaverse” where users can interact between many kinds of apps and platforms in the cyber realm.

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But first we’ll start with what looks like the company’s attempt to seize some of the momentum created by Facebook’s recent name change, which the U.S. Facebook FriendĪll that said, we’ll spend the second half of this space looking at the company’s latest results that show generally solid growth and a global expansion moving ahead in steady fashion. Snap ( SNAP) and Twitter ( TWTR) trade at eye-popping multiples of 147 and 136, respectively, while even China’s Twitter-like Weibo ( WB) trades at a higher PE of 15. The stock trades at a price-to-earnings (PE) multiple of just 10, based on analyst predictions for this year, and that figure drops to just eight based on forecasts for next year – hardly what you’d expect for a high-tech social media firm whose revenue is expected to grow nearly 40% next year.īy comparison, the industry giant formerly known as Facebook, now called Meta Platforms ( FB), trades at a PE of 24 based on forecasts for this year, even after that stock has taken its own recent beating on negative publicity about putting profits before public welfare. At the same time, the company’s stock does seem quite undervalued compared to other social media companies in more mature western markets. The results themselves were relatively impressive, showing the company is turning profits, strongly growing revenue and expanding beyond the Middle East with steady gains in the newly-launched Latin America and Turkey markets. The answer probably owes to several factors. So, what got investors so excited this time? The latest rally put the company squarely back into Unicorn territory, lifting its market value to just shy of $1.1 billion, as its stock hovers just above its IPO price. Regardless of the cause, Yalla’s shares moved steadily downward from the February peak, until getting their recent boost from the latest earnings report. But investors don’t always make such distinctions. Some might argue any comparisons to Chinese social media companies – which must strictly police their content – are unfair, since Yalla’s services are all based in developing markets starting with the Middle East, and now moving into Latin America and Turkey. The company is based in the UAE, but has a major development presence in the Chinese city of Hangzhou. That period saw a spectacular rise in Yalla’s shares as they surged from their IPO price of $7.50 to as high as $41.35 – a more than fivefold increase – over the course of less than five months.įrom there the stock has moved steadily downward, most likely on some profit taking, but also in step with a broader decline for China tech stocks over that period. That comparison was behind a turbocharged rise early this year when the original Clubhouse caught the world’s fancy. Yalla is aiming to carve out a niche as a social media company focused on voice-centric chats, leading some to call it the “Clubhouse of the Middle East,” even though the company likes to point out it’s older than Clubhouse and has a stronger focus on leisure users. That was just the latest of many twists and turns for the stock since its October 2020 IPO. That ride took a sharply positive upturn last week, when the company’s shares surged more than 30% over two trading days surrounding the announcement of its latest quarterly earnings. ( NYSE: YALA ) in the year since the audio chat app operator became the first United Arab Emirates-based tech unicorn to trade in New York. It’s been a roller coaster ride for Yalla Group Ltd.

tagger app

Social media company likened to ‘Clubhouse of the Middle East’ said it could launch its ‘cutting-edge social app’ as soon as the first quarter of 2022






Tagger app