Reported 11 months ago
During the Rich Media shareholders meeting on June 26, 2024, Momo's Chairman, Cai Mingzhong, expressed concerns about challenges posed by inflation and industry competition. The article discusses Momo's declining revenue growth rate each month this year, indicating the challenges faced by this leading Taiwanese online retailer. To address the slowdown, Momo is focusing on the launch of mo store+, a platform similar to Shopee's marketplace model, to facilitate third-party merchants in selling on their platform, aiming to boost revenue growth and compete with rivals like Kupang.
Source: YAHOO