Meitu, China’s many renouned selfie app maker, is formulation to lift adult to US$1 billion by an initial open charity in Hong Kong, that if successful could be one of a biggest IPOs in a city this year.
Beautifying selfie apps have gained recognition in China as a flourishing series of Chinese women are regulating apps to whiten skin, make eyes bigger and lift other facial facilities in their query to stay pleasing and stay connected. More importantly, a success of such apps also mirrors a arise of China’s ‘She Economy’, analysts said.
Meitu, that also sells smartphones underneath a same name, was a tech startup determined by Cai Wensheng in 2008.
According to media reports, a association skeleton to lift US$500 million to US$1 billion by a share sale. In its filing to a Hong Kong Exchanges Clearing on Monday, a association pronounced it lifted US$136 million in a Series D appropriation spin progressing this year.
Meitu’s flagship selfie app Meitu Xiuxiu is a simple-to-use giveaway print modifying and pity tool, with one-touch beautifying facilities including skin whitening, eye enlarging, and jawline thinning. The outcome is so thespian that users seem to have had a cosmetic surgery.
The recognition of a app can be gauged by a series of users it has in China. According to association data, Meitu Xiuxiu had been commissioned in 900 million mobile inclination by Oct 2015, with 270 million monthly active users and 52 million daily active users. Meitu’s income augmenting some-more than fivefold from 86 million yuan (HK$100.4 billion) in 2013 to 488 million yuan in 2014, and grew serve by 50 per cent year-on-year to 742 million yuan in 2015. Currently, a revenues especially come from built-in-app ads and sales of self-made Meitu phones.
“Chinese women are a pushing force for a supposed ‘She Economy’, that has good potential,” pronounced Zhang Fan, an researcher with Zhongtai Securities.
Women are “leading a new age of consumption”, as e-commerce is flourishing during a fast shave in China, he said.
About 80 per cent of Chinese domicile output is motionless by women, including output on eating and drinking, preparation and informative activities, and travel, according to a new news from Tongbanjie, a Chinese online financing platform. It pronounced that during a past 3 decades, a normal income of Chinese women has grown by 63 per cent.
Female Internet users have grown from 290 million in 2014 to 356 million in 2015, a apart consult from Analysys, a marketplace investigate firm, showed.
Among womanlike Internet users, it is a photo-editing and amicable photo-sharing apps that are intensely popular. By Jan this year, photo-editing and pity apps were among a tip 3 in terms of recognition with womanlike mobile Internet users, after health caring and online selling apps, information from Analysys showed.
With rising income levels fuelling a expansion of such apps, analysts trust that Chinese women are now some-more penetrating than ever about their appearances – both in a genuine and practical world. Most of them see a online height as a apparatus to demonstrate and code themselves, they said.
Yin Yanji, emissary executive of Minsheng Securities’ investigate division, pronounced in a new news on China’s She Economy that “the woman’s epoch has risen in China, as mobile Internet has liberalised women and let them demonstrate themselves some-more openly and promulgate with others on amicable networking sites.”
At a same time, women also have aloft expectations about themselves due to counterpart vigour on amicable media.
“ Women caring most about their looks and what other people consider of them, ” Zhang from Zhongtai Securities said.
“They like pity on amicable spaces and have a bent to uncover off and are simply shabby by peers on amicable media,” he said.
Beautifying selfie apps like Meitu fit this trend. However, they also face a hurdles of how to spin a mountainous series of users into cash.
According to Meitu’s application, it has been pang waste given a establishment. The association reported a detriment of 2.2 billion yuan for a initial half of this year and pronounced it expects to break-even by subsequent year.
Zhang Wei, arch record officer for Meitu, pronounced in Jun that a association skeleton to grow income by augmenting advertisements, creation mobile games, and building e-commerce by cosmetic code recommendations to users.
Yin from Minsheng Securities pronounced that beautifying app makers should squeeze users’ courtesy by building and flourishing an active online village that discusses beautifying topics, provides online selling guides, or connects app users to selling sites and beauty use providers.