Tencent-Backed Online Dating App Soulgate Is Going Public. Here's What Investors Should Know
Soulgate, which operates one of China's most popular social networks, Soul, has filed early-stage plans for an IPO.
The Chinese tech giant Tencent (OTC: TCEHY) owns a 49.9% stake in Soulgate, making it the largest shareholder in the company. Given Tencent's track record of successful bets on companies like Pinduoduo and Sea Limited, Soulgate deserves a closer look. So let's give it one.
Launched in 2015, Soul is part of a new wave of social media platforms challenging the dominance of established players such as Facebook. As with Snap's Snapchat, ByteDance's TikTok, and privately held Discord, Soul is very popular among the Gen Z crowd. Nearly two-thirds of its users were born in 1990 or later.
Source Fool.com
