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Will Soul be the Bumble of China?INTL

Will Soul be the Bumble of China?

Major news for all the singletons as their options to find soul-mates just keep expanding!

The company behind Soul App (the Chinese social networking platform), Shanghai Renyimen Technology Ltd, is reportedly aiming for a $300m IPO. Btw, the company is currently valued at a hefty $1b.

Similar to other dating platforms, Soul connects people through some high-tech (and pretty secret) algorithms. But, unlike apps like Tinder (MTCH) and Bumble (BMBL), Soul allows users to take part in group chats and post on public forums. This alternate model to the standard swipe right/left must have something going for it, as Soul currently has over 100 million users in China.

why it matters
Shanghai Renyimen Technology’s potential public filing comes on the heels of Bumble’s hugely successful stock market debut last month. Since investor appetite for tech IPOs continues on a high (and the vaccine rollout means more people will comfortable dating again), the future looks bright for Soul.