The live-streaming platform already has released five to six products in America, Europe, and central Asia, which mainly target reading and social networking
China’s top live streaming website Inke Co. Ltd (3700.HK) published its annual report on March 27, showing the company’s total revenue in 2021 reached a peak of CNY 9.18 billion (USD 1.441 billion), up about 85.4% year-over-year.
Meanwhile, the company reported a net income of CNY 430 million, a year-over-year increase of 11.31%.
From 2019 to 2021, Inke grew at a CAGR of 67.6%, and the MAUs (monthly active user) of it main products also went up 17.4% year-on-year, reaching 42.80 million, Jiemian News reported.
Feng Yousheng, chairman of Inke, said during the earnings call on March 28 that Inke initiated a strategic transformation in 2019, completed verification of a multi-sector business closed loop in 2020, and has reaped the reward in 2021.
He added that an expansion into the overseas market will be a key strategic focus.
Inke’s annual report shows that its strategic goal is “to build an influential new social platform across all scenarios”, with the main product line covering livestreaming, social networking, and blind dating.
Among all businesses, social networking services contributed 62.6% of Inke’s total revenue in 2021, while 27.9% and 6.7% came from live streaming and dating apps respectively.
During the same reporting period, Inke increased its R&D expenses by 24.4% over the previous year to CNY 416 million.