May 02, 2022 (Baystreet.ca via COMTEX) -- USA News Group – The art of making connections with new friends or even potential romantic partners has shifted drastically over the last decade. This change has accelerated greatly under the “new normal” social sphere after lockdowns and other measures kept people apart. According to a recent State of Mobile 2022 report , the mobile dating market doubled in size between 2018 and 2021. During the pandemic, weary singles and young people have been noticeably ditching the most popular dating apps like Tinder of Match Group, Inc. /zigman2/quotes/207178501/composite MTCH +3.28% , Tantan from Hello Group Inc. /zigman2/quotes/203566176/composite MOMO -0.10% , and Bumble through Bumble, Inc. /zigman2/quotes/224422770/composite BMBL +0.16% , towards rising star platforms such as Bilibili Inc. /zigman2/quotes/207131615/composite BILI -1.26% and Hello Pal International Inc. /zigman2/quotes/206713317/delayed CA:HP -10.00% /zigman2/quotes/204317872/composite HLLPF +1.67% .
Steadily building out its proprietary suite of mobile apps, Hello Pal International Inc. /zigman2/quotes/206713317/delayed CA:HP -10.00% /zigman2/quotes/204317872/composite HLLPF +1.67% has grown from its language learning and travel app beginnings to a social interaction juggernaut that has a unique specialty in cryptocurrency mining.
Recently, the company launched its latest DogeChat and DoggeChat apps, which successfully bridge the appeal of video livestreaming, cryptocurrency transactions, and 1-on-1 VIP chatting interactions.
"We expect these apps to be very synergistic to our current livestreaming and crypto-mining operations," said KL Wong, Founder and Chairman of Hello Pal. "They will not only bring into our existing ecosystem new users from different markets, but also allow us to start implementing our goal to make the use of cryptocurrency more widespread in the world, starting with our users."
Where DoggeChat is set to launch first with payments made in fiat currencies through Apple Pay and Google Pay, DogeChat payments will be made in DOGE and other cryptocurrencies.
Now livestreaming creators can interact 1-on-1 with their audience members at their own discretion, and get paid for their valuable time (even in crypto!). After a brief free period, Initiators of the calls pay per minute to the receiver of the calls, incentivizing longer conversations.
Back in 2021, Hello Pal made history by becoming the market’s first listed company focused on mining Litecoin (LTC) and Dogecoin (DOGE). Reaction to the announcement was swift, causing a surge in traffic so heavy it temporarily caused a website outage .
Beyond its already well-used Chinese market, Hello Pal has been rapidly growing its live-streaming, language learning and social-crypto platform, and reaching new milestones for overseas livestreaming—including gaining over 50,000 live streamers in United Arab Emirates, Saudi Arabia, Egypt and Bahrain.
“Our marketing and technical team made incredible gains in expanding our user base in the Middle East during the last year,” said KL Wong, Chairman and CEO of Hello Pal. “Livestreaming activity has exceeded our expectations in outside China as certain key metrics represent nearly two-thirds of activity. Our focus will now shift to expanding in the same way in other parts of Southeast Asia, other Middle Eastern countries, and India.”
Although Hello Pal started its journey with strong support within the Chinese market, on-boarding outside has been extremely successful, with 2000-2500 hours of livestreaming time per day versus Chinese livestreaming of 1000-1200 hours per day. Within the business model is gift giving, of which there are 1200 gift givers per day from the Middle Eastern market versus China’s daily gift givers of 700 per day.
It's projected that these livestreaming operations will grow even more upon the successful launch of DoggeChat and DogeChat. The 1-on-1 video chat apps will expand Hello Pal’s international platform thereby increasing the exposure of livestreaming into new regions.
China’s livestreaming crackdowns initially hurt video-game streaming platform Bilibili Inc. /zigman2/quotes/207131615/composite BILI -1.26% , falling 11.5% in Hong Kong. However it quickly rebounded with a price increase of over 13% along with other Chinese tech stocks, as the internet crackdown was rumoured to not be as bad as initially thought.
Bilibili has been making gains with international retailers and brands selling in China. According to the company’s financial report, the average daily active users (DAUs) reached 62.7 million in Q2 2021, a 24% increase from the same period in 2020. With quick market share growth, marketers and brands are paying more attention to this platform. China’s Gen-Z and other young people are growing increasingly loyal to the platform, as they entertain, learn, communicate and publish on this emerging long-video platform.
Beyond its flagship Tinder app that’s become synonymous with which direction you swipe, Match Group, Inc. /zigman2/quotes/207178501/composite MTCH +3.28% also has other app such as Ablo, and French-dating app Meetic, which are both designed to meet strangers.
Specializing in arranging opportunities for strangers to get together, Match expects its Q1 2022 revenues to be between $790 million and $800 million , indicating year-over-year growth of 18-20%.
Through the introduction of Tinder Lite, designed to expand Match’s international presence, ot appears the company has a new key catalyst. Tinder has expanded its video in profile feature to more members globally. Videos within Tinder profile allow members to express themselves better, discover more about others and find the right match.
Parent company of popular apps Bumble, Badoo, and Fruitz, Bumble, Inc. /zigman2/quotes/224422770/composite BMBL +0.16% also saw huge growth in 2021, closing strong with a 42% increase in revenue in Q4 2021 from Bumble alone, and increasing the app’s paying users count by 29%.