MiniMax's Talkie App Drives $70M Revenue, Faces Replication

This success is driven by its companion-oriented AI and rapid global growth since its June 2023 launch. Insiders told 36Kr that revenue could exceed USD 70 million, primarily from Talkie, which Sensor Tower data consistently ranks among the top three global companion AI apps, alongside US unicorns Character.AI and Replika.

Talkie's revenue comes from user subscriptions and in-app purchases for character features, with additional ad revenue from high downloads. MiniMax, now valued over RMB 20 billion (USD 2.8 billion), faces the challenge of replicating Talkie's growth with other projects like Xingye (domestic Talkie) and Hailuo AI (productivity tool), as even Talkie's creators struggle to match its impact.

Talkie's success is attributed to precise timing, product positioning as a "companion game" rather than a pure AI app, and rapid, user-feedback-driven iteration, achieving 80% user retention and paid conversion for weekly users. However, MiniMax reveals potential vulnerabilities, including regulatory risks that led to the removal of its predecessor, Glow, due to adult content, and challenges with Xingye's domestic performance due to strict content moderation.

Concerns over a potential US ban, similar to TikTok, have prompted MiniMax to tighten Talkie's content controls and explore new product strategies, though early attempts to add companion features to Hailuo AI were underwhelming, leading to low user retention.