PressLogic raises $10M from popular Chinese selfie app Meitu

PressLogic, a Hong Kong-based social media content and data analytics startup, announced today that it has raised a $10 million Series A+ round from Meitu, developer of the popular Chinese selfie app. PressLogic will use the funds to launch its new lifestyle brand GirlStyle and enter e-commerce with its proprietary algorithms, which predict what topics will trend on social media among specific groups.

The new round brings PressLogic’s total raised to $15 million. Meitu first acquired a minority stake in PressLogic last year.

With its new round of funding, PressLogic will launch GirlStyle, a lifestyle and fashion-based social network targeted to young women, as an app and website in Hong Kong, Taiwan, Singapore, India, Korea and Malaysia by the end of this year. In terms of e-commerce, founder Ryan Cheung says the company will start by focusing on skincare and cosmetics by leveraging data from its online traffic and readers.

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