COVID-19 is a locomotive for the stock market, running stocks up and down based on sentiment surrounding the global pandemic. Take Monday, for example, with news of a mutant strain of the virus in Britain creating market panic that overshadows the rollout of a second COVID-19 vaccine. With people staying home by order or choice, Grand View Research sees the viral outbreak as a key growth contributor to an already humming global video streaming market, an industry it foresees reaching a staggering $184.2 billion by 2027.
While it can be difficult to put a circle around exactly what is driving growth, 2020 was a good year on the expansion front for Hello Pal International Inc. (CSE: HP)(OTC: HLLPF), with millions of people now using its international live-streaming video, social messaging and language learning mobile apps only about a year after the launch.
The social app is differentiated from others with functionality that includes tools to meet and communicate with people in foreign countries.
Simple fact is that people love to consume video and when it comes to retention – as in with learning a foreign language – video is far superior to “book learning.” Research indicates that the average viewer retains 95% of a message when watching it, versus only about 10% when reading it. Hello Pal combines social media and language learning in its app, a recipe for learning success and entertainment that is building momentum as measured by over 5.2 million registered users and revenue topping C$1.5 million for three straight months.
While the largest footprint for Hello Pal is China, the app is used in more than 200 countries, with management now making a push to scale its userbase. To assist in this initiative, HP just hired Chai Jun (also known as “Vincent Chai”) as Senior Vice President of Operations. Chai is a 12-year veteran of live video broadcasting and internet industries with a C.V. that includes senior management roles at prominent Chinese live-streaming companies, including serving as SVP of Operations at Hangzhou Fuliao Technology Company (operator of iPaychat livestreaming app) and SVP of Products at Hong Kong-listed Tiange Interactiv Holdings (operator of 9158).
In addition to his role in growing overall corporate revenue, Chai was instrumental in Fuliao’s launch of its international live-streaming app, which went from de novo to profitability in less than six months under Chai’s guidance.
This experience is invaluable to Hello Pal making a similar international push. “[Chai’s] enormous experience in the livestreaming industry and successful track record with launching international livestreaming products comes at a very opportune time for us as we slowly expand our focus to include not just the Chinese livestreaming market,” commented KL Wong, HP founder and chairman, in Monday’s news release on the addition.
Seeing the strong foundation Hello Pal has established, Chai says he is excited to bring his experience related to profitably marketing and operating an international live-streaming video application to Hello Pal.
Chai has also joined the Hello Pal Board of Directors, taking the seat of Robert McMorran, who has stepped down after four years as an independent director.
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