What happened Shares of Yalla (NYSE: YALA) rose 77.9% in January, according to data from S&P Global Market Intelligence. The company provides a leading voice-based social media platform in the Middle East and Northern Africa (MENA) and has seen impressive momentum following its recent initial public offering (IPO). YALA data by YCharts Yalla had its IPO on Sept. 30, pricing its stock at $7.50 per share. The company's stock is now up roughly 366% from its listing price and 404% from its price at market close on the day of its IPO. Image source: Getty Images. So what The MENA market is home to roughly 190 million social media users, and that figure is growing every day. Yalla's average monthly active users hit 14.3 million at the end of the company's third quarter, up 358.9% compared to the prior-year period, and investors are pricing in substantial growth for the business's core chatting segment and supplementary gaming and services offerings. Now what Yalla stock has continued to post big gains early in February's trading. The company's share price is up roughly 22.6% in the month so far. YALA data by YCharts Yalla is still a young social network vying for share in a competitive category, but the business has been growing at an impressive clip. The company's sales climbed 90.5% year over year to reach $33.83 million, and management is guiding for another period of strong growth in the fourth quarter. Sales are projected to come in between $35 million and $36 million -- representing growth of roughly 84% year over year at the midpoint of the target. Yalla has a market capitalization of roughly $5 billion and trades at roughly 24 times this year's expected sales. 10 stocks we like better than Yalla Group LimitedWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Yalla Group Limited wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source