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Alibaba-backed social media app Momo jumps 26% in US debut

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60 AND COUNTING: Momo had 60.2 million monthly active users at the end of September and is seeking to woo more of China's half a billion mobile Internet users.

New York

MOMO Inc, a Chinese social media application backed by Alibaba Group Holding Ltd, surged 26 per cent on its first day of trading in New York after raising US$216 million.

The shares jumped to US$17.02 on Thursday in New York after they were sold for US$13.50, the middle of