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Type of site | Online chat,streaming media |
|---|---|
| Available in | Chinese, Vietnamese |
| Traded as | Nasdaq: YY |
| Owner | JOYY |
| URL | yy |
| Registration | Optional |
| Launched | 2012; 13 years ago (2012) |
| Current status | Active |
YY is a majorChinese video-basedsocial network, a subsidiary ofJOYY.[1] It features avirtual currency which users earn through activities such askaraoke 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 includevideo 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.[citation needed]
The website was originally known asYY Voice (Chinese:语音). On 24 November 2014, YY's video streaming service began operating independently asHuya Live.[4][5]
On 18 November 2020, MuddyWatersResearch released a report claiming fraud in the financial and public reporting of JOYY Inc.[6][7] leading to a significant decrease in the value of its shares.[citation needed]
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