YY (JOYY) is one of the world’s largest video-based social networks with over 300 million users primarily in Southeast Asia. They have been listed on the NASDAQ since 2012. A rapidly growing enterprise due to organic growth and strategic acquisitions (Bigo), YY’s revenue in 2019 was $3.7 Billion, an astounding 60% increase from 2018.
CHALLENGE
With real money on the line and hundreds of millions of users, YY had a problem. What is a cost-effective way to verify users and keep their platform safe? Sending message in southeast Asia can be quite expensive and it was starting to jeopardize YY’s business. Seeking an alternative way to engage their users, YY turned to Mitto because of pricing, regional capabilities, and service.
SOLUTION
Mitto was able to lower YY’s communications costs by building a custom API that utilized SMS and one-time passcode (OTP) — delivered through Mitto’s proprietary routing platform — to securely onboard users ad increase sign-up conversions.
Owing to Mitto’s carrier-grade infrastructure, extensive global connections, and industry knowledge, the solution was deployed for YY without a hitch. In choosing Mitto, YY also deepened their knowledge of the SMS industry through ongoing support from a knowledgeable account team – readily available with industry, best-practice recommendations, and proactive solutions.
KEY RESULTS
YY can now rest easy that Mitto has launched a customized API to keep their platform safe and help them grow securely in the future. Synergies between YY and Mitto have led to:
Reduced user verification cost
Increased knowledge of SMS industry
Enhanced user security
