They say a picture's worth a thousand words. How about $710 million?
China's Meitu selfie app is hoping to raise that much by selling shares for the first time. It said Friday it would price its initial public offering between 4.9 billion and 5.5 billion Hong Kong dollars ($632 million-$710 million).
The top end of the price range would value the company at $4.5 billion, Reuters has reported.
Meitu promotes what it calls "beautification" apps.
The company's photo and video sharing apps are popular in China and other Asian countries for their slick Photoshop features -- users can edit selfies to make themselves look paler, slimmer or taller.
The company even sells a smartphone tailored to selfie addicts that comes with two cameras -- one on the back, the other on the front.
Find whole article here: China selfie app eyes big IPO
Do you think as this becomes more popular it will begin to affect the US markets through expansion of consumer demand? Do you think this is a healthy way to stimulate the economy?
ReplyDeleteIt's appalling to see the consumption being triggered by an application that promotes unrealistic expectations of a woman's body.
ReplyDeleteThere are so many photo editing apps and apps like snapchat in the American market, but I wonder if there are any for this new one to compete with in the Chinese market.
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