Cathay Capital begins deployment of Sino-French Innovation Fund by investing in Meet You
May 4, 2020
Asia
Meet You has achieved a transformation from being a pure health tracking app to a wider online female community, accumulating a large number of customers along the way. Meet You is a popular app which tracks women’s health and provides comprehensive solutions for issues related to menstruation, pregnancy and general fitness. In keeping with its successful transformation from a management-only tool to a large and engaged female community, it has also built up a social network platform called “Tataquan” for communication and interaction between young women.
The app’s technical advantages and social networking aspect have enabled Meet You to become the most popular health tracking tool for the Chinese female community Meet You has today accumulated more than 100 million users, and, building on this success, has also integrated a fast-growing e-commerce platform into its user package.
Leveraging the power of digital communities for recommending products, as well as the growing purchasing power of Chinese female consumers, Meet You today offers its loyal customers services and precuts linked to health, well-being, fitness, as well as other services for young parents. Meet You began to implement a strategy aimed at monetizing its users through social e-commerce from summer 2015, and the growth of this new sales channel is substantial.
Cathay Capital’s Sino-French Innovation Fund targets investment in startups linked to the digital sectors in order to enhance their international scope and accelerate their growth. By leveraging its vast investment experience and platform spanning three continents, Cathay will promote communication between Meet You and other targeted startups, facilitate the supply of European products to the Meet You’s e-commerce channel and more generally to support its long-term development plan.
Mingpo Cai, President of Cathay Capital, said, “Cathay Capital has a positive outlook for the e-commerce development for Meet You, and we are delighted to partner with this promising company for the maiden investment of our fund dedicated to promoting the international growth of innovative companies.. We see tremendous market value generated from this new social network platform. By leveraging our rich experience and resources in related fields, we will join together both the management of Meet You and our network of partners to expand the company’s audience resources and global competitiveness. We are confident that our investment will inject new vitality into the Meet You app, further contributing to its success on a cross-border level.”
Fangyi Chen, founder and CEO of Meet You, added: “By adding the e-commerce element to the app, Meet You aims to become China’s leading female health and social commerce platform. The app has e-commerce in its DNA and our senior executives have vast and rich experience in this area. We believe that Cathay is an ideal partner to help us achieve our long-term strategic goals. Cathay Capital has extensive resources and practical experience in e-commerce operations and internet technology, which will provide significant opportunities and a broader platform for our future development, especially as part of our expansion into the e-commerce area.”