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Meitu Banking New Growth on Social Platform, Offline “Real” Beauty

BEIJING – Over the last decade, Chinese tech company Meitu has amassed 1.5 billion users who use its arsenal of photo editing apps to beautify themselves. Now, the Xiamen-based company, which claims to have the largest database of human portraits on the planet, plans to release an upgrade on Sept. 21 that will restructure the company from being merely a tool and evolve it into a social media platform.
Meitu chief executive officer and founder Wu Xinhong outlined its business strategy for the next decade at a press conference in Beijing on Thursday. It involves two main shifts: taking its main beauty editing app in China, Meitu, and expanding it to behave more like Instagram; and increasing social functions on Meipai, its video editing app, to take advantage of the boom in sharing short video and live streaming.
“While image-based social media has a massive overseas market, there has been no such counterpart in China,” said Wu. “Meitu is set to become a one-stop solution: after processing their photos, users can share right here on the Meitu app.”
With respect to Meipai, the company is using a new catchphrase: “Talent worth sharing”. Wu unveiled a new social feature called “homework” soon to be launched. The new

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Via:: https://wwd.com/beauty-industry-news/beauty-features/meitu-new-growth-on-social-media-physical-real-beauty-1202772000/