| YY | |
| Traded As: | NASDAQ: |
| Type: | Online chat, streaming media |
| Owner: | JOYY |
| Language: | Chinese, Vietnamese |
| Registration: | Optional |
| Current Status: | Active |
YY is a major Chinese video-based social network, a subsidiary of JOYY.[1] It features a virtual currency which users earn through activities such as karaoke or creating tutorial videos and which is later converted to real cash. Launched in 2005 as duowan.com (NASDAQ:), it originally targeted gamers, before broadening to include video 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.
The website was originally known as YY Voice (Chinese: s=语音). On 24 November 2014, YY's video streaming service began operating independently as Huya 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.