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Deepti Sri · · 1 min readReport: Joyy’s founder takes over management of its core business Bigo
“In February, Li Xueling, the CEO and founder of Nasdaq-listed Joyy, took over the daily management of Bigo, which is the best-performing subsidiary of Joyy,” reported KrAsia, citing sources who have spoken to Chinese media outlet LatePost.
Details:
- The Joyy founder has reportedly been attending back-to-back meetings as he looks to accelerate Bigo’s global push.
- Heads of business units at Bigo have also been reporting to Li instead of company president Jason Hu, who has been on a vacation since February.
Context:
- The management change comes after Joyy’s sale of YY to Baidu and of Huya to Tencent last year, turning Bigo into its core business.
- Bigo operates in over 150 countries and it contributed to 90% of Joyy’s revenue in the fourth quarter of 2020. It is also the second highest-grossing non-game Chinese app in overseas markets, after ByteDance’s TikTok.
Editing by Collin Furtado and September Grace Mahino
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