Period-tracking app Meet You raises $151m, seeks listing in China

Social network and period tracker mobile app Meet You has landed a RMB 1 billion ($151 million) funding round from a number of undisclosed investors, Chinese media reported.

The company is also in preparation of an initial public offering in the domestic stock exchange, abandoning its original plan to list in the US.

Reports say that proceeds from the funding round will be mostly used to allow existing US dollar investors to exist as the company dismantles its variable interest entity (VIE) structure. All existing investors – Matrix Partners China, K2VC, and Cathay Capital Private Equity – participated in the investment.

Meet You was founded in April 2013 as a female menstrual management tool, letting users record their period cycle. The app was first called “See You” before it was changed to “Meet You” in October 2013.

At the time of incorporation, the platform raised several million US dollars worth of series A funding from K2VC, and another $15 million series B from Matrix Partners China and K2VC in January 2014.

Five months later, it completed $35-million Series C round of financing from SIG, Matrix Partners China and K2VC, followed by tens of millions series D financing round from Cathay Capital PE and Matrix Partners China in December 2015.

In total, it has raised approximately $201 million in five rounds from six investors. Meet You now has 100 million users and 5 million daily active users as of the end of July 2015, with revenues mainly come from e-commerce and advertising.

Also Read:

IDG Capital, Breyer raise $1b to invest in Chinese startups amidst slowing investments

Chinese PE Yung Park leads $30m funding into workspace startup Nash Work

Foxconn teams up with French IoT startup Actility to tap Chinese market

Mega rounds into Chinese startups propel Asia fintech funding to record highs of $4.9b in Q1

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.