Photo and Video App Developer Meitu to Raise up to US$710M in Hong Kong IPO

image credit: Meitu
image credit: Meitu

Meitu, Inc., which provides photo and video editing and sharing services, plans to launch IPO on the Hong Kong Stock Exchange on December 15th to raise between HK$4.9 billion and HK$ 5.5 billion (roughly US$630M – US$710M).

The company claims that the combined install base of their mobile apps had reached 1.1 billion worldwide as of June 2016, with 446 million monthly active users and 370 million overseas users. (Document in Chinese)

Starting in 2008 with PC-based photo editing software, Meitu provides now photo editing app MeituPic (or Meitu Xiuxiu), selfie app BeautyCam, video clip sharing and live streaming app Meipai, Android phone MeituKiss and Meitu Camera.

As of June 2016, Meipai, MeituPic and BeautyCam had 141 million, 103 million and 113 million monthly active users, respectively. Meipai users spend an average of more than 30 minutes daily, according to the company. 70% of Meitu’s users were young women as of January 2015.

MeituKiss phone, designed for selfie fanatics, has released six generations since 2013.

In April 2016, Beauty Box, a mobile game co-operated with its developer Forgame, was launched.

The company recorded RMB86 million, RMB488 million and RMB742 million (about US$120M) in revenue in 2013, 2014 and 2015, respectively. It hasn’t turned a profit.

Revenue sources include in-app advertising and hardware sales. 60%, 88%, 90% and 95% of the total revenues were from hardware sales in 2013, 2014, 2015 and the first half of 2016, respectively.

Meipai began enabling live stream viewers to buy virtual gifts to reward content contributors earlier this year. Meitu also plans to add a social shopping platform to leverage the fashion influencers on its platform in the first half of 2017.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s