 | |
Type of site | Online chat, streaming media |
|---|---|
| Available in | Chinese, Vietnamese |
| Traded as | Nasdaq: YY |
| Owner | JOYY |
| URL | www |
| Registration | Optional |
| Launched | 2012 |
| Current status | Active |
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.
