{ "docId": "019dd923-622c-750b-8b98-72ad4dd9da96", "docSlug": "86dfa89096f8", "documentTitle": "Momo, Inc. (MOMO)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2018-06-27 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 44, "pageCount": 70, "prevPage": 43, "nextPage": 45, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "Uses testimonial-style quotes from anonymous agency sources to build a negative narrative.", "elementsJson": [ "headline_text", "callout_box", "quote_block", "footnote" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b98-72ad4dd9da96/44", "deckHref": "/decks/019dd923-622c-750b-8b98-72ad4dd9da96", "deckJsonHref": "/decks/019dd923-622c-750b-8b98-72ad4dd9da96.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-72ad4dd9da96#slide-44", "components": [ { "bbox": { "h": 0.07, "w": 0.94, "x": 0.03, "y": 0.19 }, "kind": "callout", "text": "Four of the agencies our consultant interviewed gave the unsolicited opinion that Momo has a reputation as a (sex) cam site. We believe that this has directly contributed to Momo’s advertising woes.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "82cc2ce7-5688-4cfa-bfd6-08b938611cb1", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "Four of the agencies our consultant interviewed gave the unsolicited opinion that Momo has a reputation as a (sex) cam site. We believe that this has directly contributed to Momo's advertising woes.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-14dd-72ca-b978-0157aace6319", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.6, "w": 0.94, "x": 0.03, "y": 0.3 }, "kind": "list", "text": "Small Exclusive Agent #2: \"I don't think Momo will be a long lasting platform as its reputation is not good. In most peoples experience it is a live cam site for sex and this is something it cannot wash off.\"\n\nSuper Agency #6: \"Momo is good for publicity. Most people think of Momo as a sex site which has predominantly male users.\"\n\nSmall Agency #9: \"A successful broadcaster on Yizhibo would not survive on Momo. Momo is low level. Momo was successful because it was like a porn cam channel. The users were 30 to 50 year old males in second and third tier cities. Their motives were clear. They wanted to see sex performances. Despite being cleaned up Momo is still this sort of channel and encourages people to climax. If Momo can not change directions then it will have a problem.\"\n\nLarge Agency #11: \"90% of the audience are male. They are not interested in art but more about sex. Older men with their families in the US. They are lonely and spend a lot of money each month.\"", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c83a0dd7-054d-4033-8785-6e3c6c20e56b", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"I don't think Momo will be a long lasting platform as its reputation is not good. In most peoples experience it is a live cam site for sex and this is something it cannot wash off.\" — Small Exclusive Agent #2; \"Momo is good for publicity. Most people think of Momo as a sex site which has predominantly male users.\" — Super Agency #6; \"A successful broadcaster on Yizhibo would not survive on Momo. Momo is low level. Momo was successful because it was like a porn cam channel. The users were 30 to 50 year old males in second and third tier cities. Their motives were clear. They wanted to see sex performances. Despite being cleaned up Momo is still this sort of channel and encourages people to climax. If Momo can not change directions then it will have a problem.\" — Small Agency #9; \"90% of the audience are male. They are not interested in art but more about sex. Older men with their families in the US. They are lonely and spend a lot of money each month.\" — Large Agency #11", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-14dd-72ca-b978-06b54e7dc3a6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.03, "y": 0.95 }, "kind": "source-note", "text": "Source: Spruce Point Consultant. Detailed description of agencies can be found on following slide", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0f6200a8-e59d-44c9-bfcd-22042af40652", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.65, "x": 0.31, "y": 0.03 }, "kind": "title", "text": "Red Flag 7: Regulations Focused On Content Could Hit Momo Hard At Any Time (Cont'd)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8be66458-e2bf-4903-9797-733660b2d3cb", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "antagonist-introduction", "slug": null, "matchId": "2833ecfb-3a1b-49ce-b922-891e0fba1145", "evidence": "Uses external agency quotes to frame the company as having a negative reputation.", "confidence": 0.8 } ], "arcBeats": [ { "to": 69, "from": 7, "beatId": "2ed90acb-05ba-4602-8daa-c17fe790841b", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Slides 7-69 systematically expose contradictions and red flags in Momo's business, including undisclosed charges, complex VIE structure, and regulatory risks.", "position": 2, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }