VANCOUVER, British Columbia, Jan. 13, 2021
Livestreaming Business Propels Significant Growth
VANCOUVER, British Columbia, Jan. 13, 2021 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE:HP Frankfurt:27H OTC:HLLPF), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to recap its performance over the year 2020, with a highlight being that it experienced a growth in monthly revenue of over 900% over the course of last year.
After integrating livestreaming services into its international social networking platform in 2019 and generating revenues in the middle of that year, the Company's monthly revenue climbed to RMB1,000,000 (CAD 200,000) in January 2020. By the end of the year, it had risen to over RMB 10,848,000 (CAD 2.1 million) for December 2020, representing an increase of over 900%. In total, the Company achieved a total revenue of RMB60,000,000 (CAD 10.2 million) for the entire year. Furthermore, the Company achieved strong cash flow over the year, which exceeded its ongoing operating costs.
In addition, the Company started to increase its service offerings beyond livestreaming, and launched a 1-on-1 live video matching service towards the end of last year. At the same time, the Company expanded its revenue model by introducing its VIP monthly subscription service, where users can subscribe to be VIP members in order to enhance their experience on the Hello Pal platform.
"It feels really rewarding to see the work we've put in back in 2019 pay off the following year," said KL Wong, Chairman and CEO of the Company. "We've continued to lay the foundation for future growth last year with our video matching service and new revenue model, and we look forward to reaping its benefits this year."
To download Hello Pal please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: email@example.com.
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
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Hello Pal International