Author: Li Dan
Just after huanju times sold its domestic live broadcasting business to Baidu, its business was accused of fraud by muddy waters research, which is famous for targeting China capital stocks.
Hun Shui's founder Carson Block revealed in an interview Wednesday that he was in the middle of the day. Block said the gathering time is a fraudulent technology company, its transactions fake, fabricated user data.
In less than 10 minutes, the intraday decline rapidly expanded from about 2.5% to more than 10%. Since then, the decline further expanded, once nearly falling below $70, and the intraday decline was close to 30%. In the end, happy times closed 26.48% lower at $73.66, the lowest close since August 7.
Block later, muddy waters said in a report released on its official website, the gathering time live interactive dating platform YY live (YY Live) is almost all fraud, live broadcast is a
The conclusion of muddy water is that 90% of YY live broadcast is fake, and the degree of fraud Bigo the international live broadcast business is equal to that of YY live broadcast.
Muddy water also issued a question: to buy YY live Baidu will do, baidu really want to grow through an almost complete business fraud business to buy?
One day before being accused of fraud by muddy water, baidu just announced on Tuesday that it had reached an agreement to wholly purchase YY live broadcasting service of huanju times for about US $3.6 billion, making it the largest public investment in Baidu's history. Baidu CEO Robin Li said that the acquisition of YY live broadcast enabled Baidu to get the platform and operation experience of large-scale video social media, combined with Baidu's accumulation of knowledge and electricity providers, will make Baidu one of China's leading live platforms, and make the strategy of diversification of revenue take another big step forward.
On Tuesday, happy times released its third quarter results, which showed that net income increased by 36.1% to 6.286.4 million yuan (US $925.9 million), and the net profit under non US GAAP was 809.4 million yuan (US $119.2 million), a year-on-year increase of 64%.
Li Xueling, CEO of happy gathering times, said in a conference call after the release of the financial report that although it decided to sell YY live broadcast, the company still had to focus on business development in China. Jin Bing, chief financial officer of the company, said that bigo's performance in the third quarter continued to be strong, reaching breakeven and even making profits; the Middle East still accounted for about one third of the total revenue of bigo; in the fourth quarter and the whole of next year, bigo's main growth momentum will come from developed countries with high payment level and high monthly average per user income (ARPU).