Dubai: UAE-based social networking platform Yalla saw its revenue jump 102.4 per cent in 2021 at Dh1 billion as it diversified its product offerings, including its new chat version and game distribution process.
Monthly active users in the fourth quarter reached 28.1 million, while paying users increased to 8.4 million, the company said.
Net income, too, saw a near 100 per cent increase for the full year at 464.57 million (up 97.7 per cent) compared to Dh235 million in 2020.
In 2021, Yalla launched MENA’s first-ever social metaverse app, WAHA, that enables users to enjoy immersive, 3D social scenes.
Tao Yang, founder, chairman and CEO of Yalla said that the platform has also released the YallaChat version 0.3, with new functions tailored to MENA’s local user preferences. “
“Operationally, the growth momentum continues as we expand our user community and advance our monetisation capabilities,” said Saifi Ismail, President of the platform. “With innovative, customised campaigns to promote products, our monthly active users reached 28.1 million. Yalla Group’s paying users also increased to 8.4 million.”
A strong Q4
In the fourth quarter alone, the group’s total revenue jumped by almost 39.7 per cent compared to the year-ago period at Dh248.2 million while net income rose to Dh101.3 million, a growth of 18.1 per cent year-on-year.