Bad Cryptocurrency Investments Take Shine Off Meitu

Beauty software company says it will record a nearly $50 million write-down in the first half of the year related to its bets on Bitcoin and Ether Key Takeaways: Beauty software maker Meitu said its $100 million bet on Bitcoin and Ether cryptocurrencies last year has lost nearly half its value Despite the losses, company says it remains “positive on the long-term prospects of the acquired cryptocurrencies” By Doug Young We’ve previously written how cryptocurrency companies, both miners and mining equipment makers, are taking a beating right now as the…

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Meitu’s B2B Makeover Gains Momentum. First Profits in Sight?

Company best-known for its beauty app has found a second life in selling services to photo studios and cosmetics stores Key Takeaways: Meitu reported its revenue grew 40% last year, driven by 147% growth for its services targeting business customers like photo studios and cosmetics stores Company’s advertising revenue, which accounts for nearly half of its total, grew by just 12% as clients reined in their spending By Doug Young Could 2022 be the year that neglected beauty app Meitu Inc. (1357.HK) finally becomes the belle of the ball with…

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Meitu’s Latest Earnings Report: Debutante, or Fading Beauty?

Beauty app operator edges closer to profitability as user numbers fall in shift to quality-over-quantity approach Key takeaways: Meitu is focusing its resources on people who spend money on its app rather than simply boosting its user base The shift could finally help it achieve profitability this year for its core operations. By Doug Young The latest earnings report from beauty app Meitu Inc. (HKEx: 1357) contains a lot of moving parts, reflecting a company still in search of elusive profits more than four years after its IPO. Investors clearly…

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