Overview
JOYY Inc. operates in the global social entertainment sector, with products spanning live streaming, short video, messaging, audio/video communication, and casual games. Its principal platforms include Bigo Live, Likee, imo, and Hago. The company says its mission is “to enrich lives through technology.” [1][2]
For FY2025, the latest annual reporting year available as of 2 October 2026, JOYY reported net revenue of US$2.124 billion and 272.1 million monthly active users in Q4. It reported a global operating network of approximately 30 regional offices and more than 5,400 staff, with audiences and operations across regions including North America, Europe, the Middle East, and Southeast Asia.[3][4][5][6][7][8][9]
Founded in April 2005, JOYY listed on Nasdaq in November 2012.[1] [3][4][5][6][7][8][9][1][2]
Products & services
JOYY’s consumer products include **Bigo Live**, a live-streaming platform for hosting and watching streams and socializing; **Likee**, a short-video platform with video discovery, creation and sharing tools; and **imo**, a messaging app supporting audio and video calls, group calls and document sharing.[10][5][7][6] **Hago** combines casual games, audio/video chatrooms, interactive party games, customizable avatars and social groups.[11][12]
For advertisers and publishers, **BIGO Ads** is an AI-enabled programmatic advertising platform that uses real-time bidding and smart-bidding models, including oCPC and ROAS optimization.[13][14] **Shopline** provides merchants with tools for storefront management, payments, logistics, inventory and marketing across e-commerce, social commerce and physical retail.[15] JOYY also describes a global data-center network and audio/video technology intended to support low-latency services across mobile networks and Wi-Fi.[16] Live streaming accounted for 72.0% of JOYY’s FY2025 net revenue; the cited revenue disclosure does not provide revenue shares for individual apps.[17] [10][5][7][6][11][12][13][14][15][16][17]
Geographic presence
JOYY’s FY2025 net revenue was reported across four geographic groupings: developed countries and regions, $1,250.4 million (58.9%); Southeast Asia and others, $420.9 million (19.8%); the Middle East, $244.2 million (11.5%); and mainland China, $208.7 million (9.8%). The company says the developed-markets grouping mainly includes the United States, Singapore, Japan, South Korea and the United Kingdom; the Middle East grouping mainly includes Saudi Arabia and other countries in the region; and Southeast Asia and others mainly includes Indonesia, Vietnam and the rest of the world. These groupings do not provide revenue figures for each individual country.[18][19][20][21]
Singapore is JOYY’s corporate headquarters, and BIGO’s headquarters are at the same Singapore premises. BIGO lists local offices in the United States, United Kingdom, Japan, South Korea, Australia, Malaysia, Indonesia, Jordan, mainland China and other regions; its physical servers are hosted primarily at data centers in Singapore, among other locations.[22][23][24] BIGO Live is described as having a strong presence in North America, Europe, the Middle East and Southeast Asia, and as being available in approximately 150 countries and 23 languages.[10] [18][18][18][18][18][18][18][18][19][20][21][22][23][24][10]
Business segments
JOYY reports two business segments: **BIGO** and **All other**. BIGO includes Bigo Live, Likee, imo, BIGO Ads and certain audio live-streaming platforms. Bigo Live focuses on social live streaming; Likee on short-form video creation and sharing; and BIGO Ads on programmatic advertising and monetization. In FY2025, BIGO generated US$1,848.4 million, approximately 87% of consolidated revenue.[25][26][27][28][10]
**All other** includes Hago, Shopline, certain audio live-streaming platforms and other activities. Hago combines casual games with social features, while Shopline provides commerce solutions for merchants selling through online, social-commerce and physical-retail channels. The segment generated US$277.1 million in FY2025, approximately 13% of consolidated revenue; percentages are approximate because reported segment revenue includes eliminations against consolidated revenue. The BIGO / All other segmentation was also reported for FY2023–FY2024.[25][13][7][8]
Separately, JOYY reports revenue by type, rather than as business segments: FY2025 live-streaming revenue was US$1,529.7 million (about 72% of total), advertising revenue US$442.7 million (about 21%), and other revenue US$151.9 million (about 7%).[29][17] [25][26][27][28][10][13][7][8][29][17]
Company history
JOYY traces its beginnings to 2005, when it started operations in mainland China with a gaming-focused business that included the Duowan.com portal. In 2008, it launched YY Voice, an audio-based service that grew out of gaming communities. The company, then known as YY Inc., listed on Nasdaq in 2012; it launched Huya, a game livestreaming service, in 2014, and Huya later listed on the NYSE in 2018.[30][31][1][32]
The company expanded its social-entertainment offerings with the launches of Bigo Live in 2016, Likee in 2017 and Hago in 2018. In 2019, YY completed its acquisition of BIGO and changed its corporate name to JOYY Inc.[10][33][30][1]
In 2020, JOYY agreed to sell its mainland-China livestreaming business, YY Live, to Baidu; the transfer was substantially completed in 2021 and the sale was finalized in February 2025. In August 2024, co-founder David Xueling Li stepped down as chair and CEO, with COO Ting Li succeeding him in both roles. In March 2025, the company changed its Nasdaq ticker from YY to JOYY.[34][35][36][31][30][37][38] [30][31][33][10][34][35][36][1][32][37][38]
Sources
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