Tencent-backed social media app Soul, a metaverse dating platform popular with young people in China, is vying for a listing in Hong Kong after abruptly pulling a plan to sell shares in the US last year, reports the Financial Times.
Soul’s owner Soulgate filed paperwork in Hong Kong this week revealing the company had racked up a loss of RMB 1.3 billion ($194 million) last year on RMB 1.3 billion of annual sales. Still, it has attracted tech giant Tencent, which bought a 49.9% stake in the company starting from 2020.
The social app lets users pick avatars and interact in the metaverse, with many of its 32 million users flocking to its app for dating. Soul prides itself on algorithmically connecting users based on their personality and interests, a strategy also used by ByteDance’s TikTok, which is now among the most popular apps in the US.