I unfortunately know very little about their business model (advertising? pay-to-play? gifts/items?), but would be very curious to see how it all breaks down.

I unfortunately know very little about their business model (advertising? pay-to-play? gifts/items?), but would be very curious to see how it all breaks down. Specifically, where their special-ness lies, and how high the barriers to competition really are. I want to criticize the high valuation, but in fairness I don't know enough about the company or industry.