What is the percentage of BIGO Live's revenue that comes from developed world markets, including the US, Europe, Korea, and Japan 
hen roughly over 20% from developed world, including US, Europe, Korea and Japan. In terms of future strategies, BIGO Live will focus on, as we mentioned in the prepared remarks, will focus on developed world, because we see that developed world users tend to have more social features and then high ARPU and monetization potential. So the US, European and Japan or Korean market will grow faster than the existing emerging markets. So that's about BIGO Live.
For the next product, Likee. Likee's key markets are in India, Indonesia, Russia, US and some of the Latin American countries. In terms of strategy, it will be more balanced. Likee, because it's very easy for user to access and create short-form videos so we will go parallel, both in terms of penetrating into emerging markets and developed world.
As we mentioned, we have organized -- Likee has organized some of the offline events in India and also, in July, we organized a very popular event in Russia, attracts thousands of users, young generations, to play Likee in the offline setting and make friends and do social interaction. So we do see a lot of potential for Likee to acquire both developed world and emerging markets traffic. That's the long answer to your first questions.
Secondly, for HAGO business. HAGO's revenue is growing very rapidly. It's actually one of the main driver for YY's revenue growth. But again, in terms of percentage, it's still less than 10% of the total YY business. But again, we see very encouraging growth pattern. For the sales and marketing, we have spent, I would say, decent amount of spending in second quarter. But again, but right now, it's still not breaking even yet on a business stand-alone perspective, but we do see margin will improve and see a breakeven point coming in the foreseeable future. So that's the question to the HAGO -- the answers to the HAGO question.
Operator
Your next question comes from the line of Jialong Shi from Nomura. Please ask your question.
Jialong Shi -- Nomura -- Analyst
[Foreign Speech]
First of all, thanks you very much for the data points shared by management about overseas businesses. And we think this user engagement data about YY's overseas business are quite impressive. I have a few questions about your overseas businesses. And for the four overseas apps, IMO, Likee, BIGO Live and HAGO, so which of the apps may have the biggest financial potential in the long run in the real management? Also, just wondering if management can provide more colors on the competition landscape for the four overseas apps, such as who you guys are competing with in each of the four verticals.
And finally, if we think the overseas expansion may require multiple years investment. So I just wonder where YY is now in that investment cycle and when will we see a positive earnings contribution from your overseas business based on management best estimates? Thank you.
David Xueling Li -- Chairman of the Board and Chief Executive Officer
[Foreign Speech]
This is David. Let me address your questions. So firstly, if you have to ask me to pick up one of the favorable products in the future, especially in terms of my vision, so the choice definitely will be IMO. Because IMO, if you look at the nature of the platform, it's an instant messaging platform with a very -- with very strong growth potential in terms of the users, as well as future in my vision.
And currently, since IMO is still in the very early stage, so we actually didn't put very aggressive actions in terms of true money as currency users. But since we already have over 200 million MAUs, which is a massive user base, so in the long run, definitely, we are more confident in terms of future's IMO's monetization.
[Foreign Speech]
When we look at the competitive conditions in terms of the instant messaging product in China, outside of China, which actually is quite different. So in China, in most of the cases, the company will allocate a large scale of the research development teams, which is even over 1,000 people to develop the different functionalities or other services into t
hen roughly over 20% from developed world, including US, Europe, Korea and Japan. In terms of future strategies, BIGO Live will focus on, as we mentioned in the prepared remarks, will focus on developed world, because we see that developed world users tend to have more social features and then high ARPU and monetization potential. So the US, European and Japan or Korean market will grow faster than the existing emerging markets. So that's about BIGO Live.
For the next product, Likee. Likee's key markets are in India, Indonesia, Russia, US and some of the Latin American countries. In terms of strategy, it will be more balanced. Likee, because it's very easy for user to access and create short-form videos so we will go parallel, both in terms of penetrating into emerging markets and developed world.
As we mentioned, we have organized -- Likee has organized some of the offline events in India and also, in July, we organized a very popular event in Russia, attracts thousands of users, young generations, to play Likee in the offline setting and make friends and do social interaction. So we do see a lot of potential for Likee to acquire both developed world and emerging markets traffic. That's the long answer to your first questions.
Secondly, for HAGO business. HAGO's revenue is growing very rapidly. It's actually one of the main driver for YY's revenue growth. But again, in terms of percentage, it's still less than 10% of the total YY business. But again, we see very encouraging growth pattern. For the sales and marketing, we have spent, I would say, decent amount of spending in second quarter. But again, but right now, it's still not breaking even yet on a business stand-alone perspective, but we do see margin will improve and see a breakeven point coming in the foreseeable future. So that's the question to the HAGO -- the answers to the HAGO question.
Operator
Your next question comes from the line of Jialong Shi from Nomura. Please ask your question.
Jialong Shi -- Nomura -- Analyst
[Foreign Speech]
 First of all, thanks you very much for the data points shared by management about overseas businesses. And we think this user engagement data about YY's overseas business are quite impressive. I have a few questions about your overseas businesses. And for the four overseas apps, IMO, Likee, BIGO Live and HAGO, so which of the apps may have the biggest financial potential in the long run in the real management? Also, just wondering if management can provide more colors on the competition landscape for the four overseas apps, such as who you guys are competing with in each of the four verticals.
And finally, if we think the overseas expansion may require multiple years investment. So I just wonder where YY is now in that investment cycle and when will we see a positive earnings contribution from your overseas business based on management best estimates? Thank you.
David Xueling Li -- Chairman of the Board and Chief Executive Officer
[Foreign Speech]
This is David. Let me address your questions. So firstly, if you have to ask me to pick up one of the favorable products in the future, especially in terms of my vision, so the choice definitely will be IMO. Because IMO, if you look at the nature of the platform, it's an instant messaging platform with a very -- with very strong growth potential in terms of the users, as well as future in my vision.
And currently, since IMO is still in the very early stage, so we actually didn't put very aggressive actions in terms of true money as currency users. But since we already have over 200 million MAUs, which is a massive user base, so in the long run, definitely, we are more confident in terms of future's IMO's monetization.
[Foreign Speech]
When we look at the competitive conditions in terms of the instant messaging product in China, outside of China, which actually is quite different. So in China, in most of the cases, the company will allocate a large scale of the research development teams, which is even over 1,000 people to develop the different functionalities or other services into t