YY (social network)

YY (Chinese: YY语音) is a major Chinese video-based social network with over 300 million users. It features a virtual currency which users can earn through activities such as karaoke or creating tutorial videos, then convert 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, sport and fashion. Users exchange "virtual roses" as a kind of currency, with top users said to earn as much as $20,000 per month. In November 2012, YY listed on the NASDAQ.