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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Weimob Invests for the Future, as Investors Grow Impatient for Profits

E-commerce SaaS company closely tied to WeChat spent heavily on new initiatives last year, pushing it deeply into the red Key Takeaways: Weimob reported a 566 million yuan adjusted loss for 2021, reversing a profit from the previous year, as it spent heavily on new initiatives Big-name investors sold down their stakes in the company in the second half of last year, but are showing early signs of returning By Doug Young Seasoned stock buyers will tell you to look for companies that are investing in their future. While that…

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Private Equity Bets iClick Can Shine Brighter Outside Stock Market Spotlight

Bid by PAG and Oasis Management carries a 20% premium and values the Hong Kong-based provider of digital marketing tools at $640 million  Key takeaways: Private equity bid for iClick comes amid a growing exodus of U.S.-listed Chinese companies from New York iClick shares are down more than 24% year-to-date despite solid revenue growth and improving profitability By Warren Yang A coalition of investors that have launched a bid to privatize iClick Interactive Asia Group (ICLK.US) are betting the provider of digital marketing tools will be better off as a…

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WeChat Software Star Weimob Hit by More Loses, Big-Tech Scrutiny

Software as a service (SaaS) specialist’s latest results show it’s still suffering from a pandemic hit, as investors also worry about regulatory crackdown on WeChat parent Tencent Key Takeaways: Weimob’s 50% stock drop over the past month owes to concerns about its continued losses, as well as regulatory scrutiny of big tech Its intrinsic growth story remains intact as the company expands its customer base and partners By Eric Auchard Shares of Weimob Inc. (HKEx: 2013), the top supplier of cloud-based commerce and marketing software for merchants in China’s vast…

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