YY Inc (ADR) (NASDAQ:YY) Zooms Up By 6.63% On Friday

Posted by Nathan Alexander October 14, 2013 0 Comment 1041 views

In Friday’s trading, YY Inc (ADR) (NASDAQ:YY) rose by 6.63%. The opening price of the shares was $47.67, which climbed to an intraday high of $50.30 and dipped to a close of $50.00. Approximately 2.65 million shares were traded on Friday while an average volume of 1.78 million shares were traded over a 30 day period. The 52-week low of YY Inc (ADR) (NASDAQ:YY) shares is $10.50 and its 52-week high is $51.50. The company has a market capitalization of $2.73 billion.

About the company

YY Inc (ADR) (NASDAQ:YY) was incorporated on 22 July 2011. It is a communication social-platform that engages users in various online group-activities via voice, video and text. The company’s platform is composed of the YY Client, YY.com and Duowan.com Web-portals as well as Mobile YY. It sells online-advertisements to numerous game-developers in the form of text-links, banners, logos, buttons and videos on Duowan.com.

The services

YY.com is YY Inc (ADR) (NASDAQ:YY)’s portal site. It offers users and visitors a centralized-location where users can navigate, learn about and access varied information. Via YY.com, the company’s user-community can download latest versions of Mobile YY and YY Client applications. It mainly generates revenue by paying users of the online Web games, YY-Music as well as via membership. In 2012 October, the company launched Web-based YY. This is a version of the YY Client. It allows users to conduct real time interactions online with the use of a flash plug-in. It does not require any download or installation.

The acquisition

On 12 March 2012, YY Inc (ADR) (NASDAQ:YY) acquired the majority assets of an Internet-service company. This company is involved in operating an Internet-platform.

YY Inc (ADR) (NASDAQ:YY)’s channels include music, games, education, talk-shows, literature, finance and conference calls. The YY Client is YY Inc (ADR) (NASDAQ:YY)‘s personal computer-based user-software

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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