Chinese beauty App Meitu completes US$629 million IPO

Chinese beauty App Meitu completes US$629 million IPO

A Chinese photo editing app, Meitu, which can enhance users’ appearance in photos with a simple swipe, has completed an US$629 million Initial Public Offering in Hong Kong, according to a report published by the New York Times.

The app’s creators are planning to use funds raised to take the software international, with local teams currently looking at how to adjust the beauty tools on offer to cater for accepted standards of beauty in different markets.

The App will use algorithms to track which functions are most popular in various countries, for example, skin whitening versus tanning, allowing it to tweak tools to cater for different beauty standards.

 

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