Chinese photo app maker could see $3B valuation - Mobile World Live

Chinese photo app maker could see $3B valuation

15 APR 2016

Meitu, maker of Chinese selfie-editing apps, is looking to raise $200 million in a round that could value it at $3 billion, according to Bloomberg.

The report said Meitu’s apps have around 270 million monthly active users, and have been installed on more than 900 million devices.

The apps offer image editing features that let users adjust their heights, add digital make-up and alter their complexion.

Meitu raised $360 million in 2014 at a valuation of $2 billion. Backers include IDG and Qiming Venture.

An initial public offering, possibly in Hong Kong, has also been mooted.

Earlier this week, the company announced that its app BeautyPlus, which has 100 million users, would allow iPhone users to edit Facebook video profiles – seven second video clips that replace traditional profile pictures.

Meitu joined a group of app makers including Boomerang by Instagram, Vine, Flixel, Lollicam and MSQRD to help Facebook promote the new feature.

According to Frank Fu, managing director of Meitu global operations, “by integrating the new Facebook video feature into BeautyPlus we are making sure that every video a user creates with our app becomes a video worth sharing”.

With BeautyPlus, users can remove blemishes, change their eye colour and whiten their teeth, and the app also includes background blur and image cropping options.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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