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YY is a major Chinese video-based social network, a subsidiary of JOYY.cite-ref-1[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: YY), 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.cite-ref-variety-2-0[2]cite-ref-3[3] In November 2012, YY was listed on the NASDAQ.

The website was originally known as YY Voice (Chinese: 语音). On 24 November 2014, YY's video streaming service began operating independently as Huya Live.cite-ref-4[4]cite-ref-5[5]

On 18 November 2020, MuddyWatersResearch released a report claiming fraud in the financial and public reporting of JOYY Inc.cite-ref-6[6]cite-ref-7[7] leading to a significant decrease in the value of its shares.

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• External links

cite-note-11. ↑ citerefsunSun, Leo. "Tencent Gains Control of Huya: What Does This Mean for JOYY?". www.nasdaq.com. Retrieved 30 June 2020.

cite-note-variety-22. ↑ Leydon, Joe, "Film Review: ‘People’s Republic of Desire’ : Documentarian Hao Wu examines a unique form of digital interaction in contemporary China.", Variety, 15 March 2018

cite-note-33. ↑ citerefgeron2012Geron, Tomio (11 June 2012). "YY.com: China's Unique Real-Time Voice And Video Service With A Virtual Goods Twist". Forbes. Retrieved 21 November 2012.

cite-note-44. ↑ citeref-2018种昂 (1 February 2018). "虎牙直播改道上市 背后玄机引发业界猜疑". 经济观察网 (in Chinese). Retrieved 27 February 2018.

cite-note-55. ↑ "呕心沥血经营这么久的虎牙直播，YY还是把它给卖给了腾讯！" (in Chinese).

cite-note-66. ↑ "MW is Short Joyy Inc. (YY US)". Muddy Waters Research. Retrieved 19 December 2020.

cite-note-77. ↑ "Why Carson Block Says China's Joyy Is a 'Fraud' and a 'Zero' - YouTube". www.youtube.com. 23 November 2020. Retrieved 19 December 2020.

• Official website