MARKETWATCH - Soulgate Inc., the Chinese social-networking app backed by Tencent has pulled the plug on its planned U.S. IPO. Soulgate, which last June said it was looking to raise ~$250M in the IPO, filed with the U.S. Securities and Exchange Commission to withdraw its registration statement, saying it has determined not to proceed at this time with the proposed offering.
by Colin Kellaher
See full article at MarketWatch
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RENAISSANCE CAPITAL - May 12 - Soulgate, which provides a gamified social networking app in China, filed with the SEC to raise to $100M in an IPO. Users, called "Soulers," create a new identity in Soul's virtual universe to freely create, share, explore, and connect with other users. In March 2021, the company averaged 9.1M DAUs, a 94% increase over the prior-year period. Soulgate was founded in 2016 and booked $104M in sales for the 12 months ended Mar 31, 2021.
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PR NEWSWIRE - Feb 3 - Soul App, which focuses on building emotional connections, has captured ~100M users since its inception just 4 yrs ago, with its MAU surging to ~30M, up by 200% from a year earlier. Internationally, the app has hit North American, Japanese and Korean markets in its tailored versions, and the Chinese version has also established a large user base in Southeast Asia. With an efficient matching system, diversified social experiences, and a stress-free atmosphere, SOUL fully satisfies Gen Z's multi-scenario social needs that require instant feedback in a fragmented time slot, thus enlarging its user base and stickiness at a swift and sustained pace. At present, Soul App boasts an Average Daily Time of ~60 mins and an interaction ratio among MAU of over 95%.
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PR NEWSWIRE - Jan 26 - Soul App - Chinese version, a representative of new social connections, has recently reached ~100M registered users and ~30M monthly active users around the world. Topping the Social category list of the App Store in mainland China, SOUL has already launched in North America, Japan, and South Korea. Soul App saw the unique market opportunity toward Gen Z who views the Internet as an indispensable lifestyle and life scene. SOUL focuses on the spiritual needs of users by exploring users' inner characteristics, and identifies people with common interests and similar characteristics, offering them a platform to share common interest topics with each other. The matching mechanism is based on Soul's innovative big data and AI technologies.
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PR NEWSWIRE - Dec 31 - Soul App (launched in 2016), a socializing app popular among the generation Z, joined hands with WABC (World of Art Brut Culture, founded in 2010 in Shanghai) Charity Foundation launched this year's "Different Socks Day" Charity Event, bringing the public's attention to mentally challenged groups and conveying the power of love and care from young Soul users. The concept of "Different Socks Day" started in 2016 with WABC's Charity Initiative: each year on December 23, people wear mismatched socks to show their willingness to care for those with autism, brain paralysis, and Downs syndrome, as well as their family. In recent years, "Different Socks Day" has grown to a well-known charity event profoundly because of its proposal of a warm and caring purpose with ground-breaking ways of participation.
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