Plastic surgery app SoYoung receives USD 60M for Series D
SoYoung
Founder: Jin Xing
Founded in: 2013
Financing status: RMB 400 million (USD 60 million) for Series D financing in 2017
Plastic surgery app, SoYoung, received USD 60 million for Series D on December 24 to improve its user experience.
SoYoung is a plastic surgery app that offers nip-tuck related services, including a popular social network, surgery e-commerce platform, as well as offline clinics and financing support in order to build an opaque trading platform.
Users can get the access to SoYoung’s plastic surgery platform on its website, app, and WeChat. Due to the popularity of its social network, which enables users to share their surgery experiences with photos and texts, users can interact with others and communicate about their plastic surgery. Because so many people seek information about plastic surgery, the company offers a marketplace on which its partnered hospitals and clinics can promote their services. Meanwhile, SoYoung also builds offline clinics itself, and offers users financial products for funding surgery.
SoYoung’s business model starts with creating a social network to grow a community and user base, which boosts stickiness and participation. Because of this, it can improve its business with user feedback quickly. Additionally, such traffic finally translates into realized earnings from advertising, financial services, and offline clinics.
Founded in 2013 in Beijing, SoYoung currently has connected to more than 6,600 public first tier and private hospitals, with more than 25,000 doctors registered on its platform offering nearly 30,000 products across different cities. According to the company, it has about 6 million active users, including 600,000 diaries posted on its social network platform.
This new financing round was led by Apax Partners, with CDH Investments and existing investors such as MatrixPartners China and Trustbridge Partners participating. The capital will be used to improve its customer experience, as well as expand its services to more consumption cases.
（Top photo from 699pic.com）