YY is an online social entertainment platform that engages users through audio, video and text in a wide range of online group activities, such as music shows, live video streaming and multi-player gaming. With a capacity to support over one million participants concurrently, YY offers users a more immersive, interactive, enriching and engaging entertainment experience through its large social community.
Founded as an online games web portal in 2005, the company has transformed itself into a multifaceted entertainment platform in the past decade. In July 2008, we launched our core product YY Client, a PC-based software that allows users to create individual channels for any live social gathering covering a broad range of interests and topics. With its superior voice quality and user experience, YY Client quickly gained a vast user base and emerged as one of the most popular voice communication tools. In order to make YY products more easily and widely accessible, we introduced a mobile app Mobile YY in 2010 and launched a web version in 2012.
User behaviour evolves and new trends emerge over time. Many users use YY to socialise and make friends, while some have turned YY into a virtual stage to showcase their talent or share their knowledge and expertise. To address the constantly evolving user needs, we have developed several products that help grouping users and channels according to their share interests. Started with online games, we have gradually expanded into music and entertainment, live game broadcasting and online dating show, as well as into non-entertainment categories such as education and finance. Users host and participate in these channels, creating their own content to share with other users. Almost all content on YY platform are user generated. Today, supported by its highly scalable technology and well established eco-system, YY has grown into a multifaceted online social entertainment platform, with more than 10 million channels and 122 million monthly active users.
Users create channels for social gatherings that cover specific interests or topics, based on which the channels are categorised into different business segments. The main business segments on YY platform are: music and entertainment, online games, live game broadcasting, online dating, membership program, online education and online advertising. More about our business.
YY was listed on the NASDAQ in November 2012 and generated over US$ 593 million revenues and US$174 million operating profit in the financial year of 2014.