What went wrong? The truth is that Cheetah has faced serious questions about data collection and ad practices for years, but until recently privacy and security questions haven’t been a serious threat to companies like Cheetah. The NYSE-listed company has seen its share price drop 43% since the start of the year, and its market cap has shrunk by nearly 94% from a historical high of $4.8 billion in May 2015. The company booked a net loss of RMB 821.2 million in the fourth quarter, compared with net income of RMB 733.3 million in the same period a year ago. The company’s apps were removed from Google’s store in February as part of a purge of apps identified as malicious by Google, Android’s parent company, company executives said on a Tuesday earnings call.Ĭheetah reported on Tuesday that its fourth-quarter revenue fell 55.7% year on year to RMB 612 million (about $86 million), and warned that the worst was yet to come. The company has been cut off from major mobile ad platforms, including Facebook. Today, it’s a wounded gazelle, battling for survival.
Backed by investments from Tencent and Bytedance, its utility apps for Android-including Clean Master, a browser, and a popular keyboard-were some of the most downloaded apps ever on Google’s Play Store. A few years ago, Chinese app developer Cheetah Mobile was a solid, medium-sized software company with a global user base.
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