After Some Soul Searching, Lonely Hearts App Soulgate Scraps New York IPO

Tencent-backed company attributes decision to finding other funding options, as analysts recommend caution Key points: Soulgate says its last-minute abandonment of a New York IPO came after it received ‘alternative financing options’ Analysts urge caution as company rapidly burns through cash on sales and marketing with no clear path to breakeven By Georgina Prodhan Perhaps it was destiny. Or perhaps there just weren’t enough buyers. Depending on your world view, those are two potential explanations for the 11th-hour scrapping of a New York IPO by Soulgate Inc., the company behind…

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Dating App Momo Looks for Excitement With Tantan Overhaul

CEO says the laggard app it purchased in 2018 has potential for strong growth following the recent departure of its founder Key Points: Momo believes its underperforming Tantan app could grow strongly following a major overhaul now in the works Such a Tantan revival could help put Momo back on a growth track By Doug Young Many may know dating app Momo Inc. (Nasdaq: MOMO) for its moniker as the “Tinder of China,” due to its primary function as a place for people to hook up online. But a better…

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IPO-Bound Soulgate Sells Itself as Service for the Lonely, Not Lusty

Operator of the app called Soul says it’s seeking internet natives who ‘experience the loneliness technologies bring’ Key takeaways: Soul’s no real-names and no-pictures policy may help it stand out as a new kind of non-dating app for people looking to socialize Massive promotional spending raises questions about sustainability of the company’s growth By Georgina Prodhan Soulgate Inc., the Tencent-backed operator of a social networking app planning a $100 million Nasdaq listing, isn’t your average dating app. In fact, the operator of the app that goes simply by the name…

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