SANTA CLARA, Calif., March 22, 2019 /PRNewswire/ -- CooTek (NYSE: CTK), the developer of the short video community app VeeU, has released a customized version of the app with short video content relevant to users in Vietnam.
"VeeU's short video community has been widely accepted by many users in Vietnam," commented Mr. Henry Yao, Senior Product Director at CooTek. "By providing the Vietnamese users with more relevant videos, we hope to quickly become the most popular platform for users there to share and watch short and funny videos."
Last year, VeeU ranked as the top Google Play entertainment app in Thailand. The short video content offered to users in Thailand by VeeU has also been well received. VeeU's success in Thailand has helped to expand its audience in Vietnam.
"With VeeU rapidly gaining popularity in the region, we rapidly took action to strengthen its competitiveness in Vietnam. For example, we are looking into partnering with multi-channel networks ("MCNs") to expand the amount of relevant video content for the Vietnamese community," added Mr. Yao.
As one of CooTek's rapidly growing content-rich portfolio apps, VeeU has expanded into Vietnam to support the growth of CooTek's DAU and revenue. Average daily active users ("DAUs") of CooTek's portfolio apps surged 483% year-on-year in December 2018, which led to impressive year-on-year net revenue growth of 259% for the full year 2018. As the main driver of revenue growth, portfolio apps accounted for approximately 63% of CooTek's advertising revenue in 2018.
About CooTek (Cayman) Inc.
CooTek is a fast-growing global mobile internet company. The mission of CooTek is to empower everyone to express themselves and enjoy relevant content seamlessly. The Company's user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users' ever-evolving content needs and helps it rapidly attract targeted users. Focusing on 5 verticals of fitness, news and short videos, healthcare, lifestyle and entertainment, CooTek has developed multiple rapidly growing content-rich portfolio apps with news feed to deliver relevant content.
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This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. CooTek may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about CooTek's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: CooTek's mission and strategies; future business development, financial conditions and results of operations; the expected growth of the mobile internet industry and mobile advertising industry; the expected growth of mobile advertising; expectations regarding demand for and market acceptance of our products and services; competition in mobile application and advertising industry; and relevant government policies and regulations relating to the industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and CooTek does not undertake any obligation to update such information, except as required under applicable law.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Ms. Ivy Lu
Email: IR@cootek.com
Christensen
In China
Mr. Christian Arnell
+86-10-5900-1548
carnell@christensenir.com
In US
Ms. Linda Bergkamp
+1-480-614-3004
lbergkamp@christensenir.com
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