BEIJING, Nov. 27, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today further responded to the article issued by BuzzFeed News dated November 26 and November 27, 2018, regarding the attribution of app installations.
Near 97% of the revenue from the Company's utility apps in the overseas market are contributed by dozens of third-party advertising platforms through SDKs and the remaining 3% are from an SDK developed by Cheetah Mobile itself, which represents less than 1% of the Company's total revenue in the third quarter of 2018. Most of these SDKs are widely implemented in numerous other popular mobile applications all over the world.
Cheetah Mobile has no control over these third party advertising platforms. The Company has neither the intention or ability to direct such advertising platforms to engage in the alleged "click injections." In addition, given the overwhelming contribution of revenues from third party adverting platforms, the Company has no intention to engage in any alleged "click injection" activities.
The Company noted that there are numerous untrue and misleading statements in these two articles. The Company plans to take legal actions against those parties such as Kochava and the responsible persons that the Company believes have generated and disseminated those untrue and misleading statements.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile Internet company with global market coverage. It has attracted hundreds of millions of monthly active users through its mobile utility products such as Clean Master and Cheetah Keyboard, casual games such as Piano Tiles 2, Bricks n Balls, and live streaming product LiveMe. The Company provides its advertising customers, which include direct advertisers and mobile advertising networks through which advertisers place their advertisements, with direct access to highly targeted mobile users and global promotional channels. The Company also provides value-added services to its mobile application users through the sale of in-app virtual items on selected mobile products and games. Cheetah Mobile is committed to leveraging its cutting-edge artificial intelligence technologies to power its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014.
Safe Harbor Statement
This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile's growth strategies; Cheetah Mobile's ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile's ability to monetize its platform; Cheetah Mobile's future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile's revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile's filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Investor Relations Contact
Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +86 10 6292 7779 ext. 1600
Tel: +1 (646) 417-5395