Chinas largest LGBT community impacts the first share of same-sex social networking in the world

category:Internet
 Chinas largest LGBT community impacts the first share of same-sex social networking in the world


According to the prospectus, the tentative fundraising scale of Blue City brothers as a placeholder is US $50 million, and amtd Shangcheng group, CITIC Lyon securities, Lutong capital and tiger securities are the joint lead underwriters of this IPO.

The funds raised in this IPO will be mainly used in three aspects: business expansion through marketing and promotion to further attract users and expand brand influence; technology investment and R & D, especially in the field of artificial intelligence and big data; general enterprise purpose, including working capital demand and potential strategic acquisition, investment and cooperation.

With the Blue City brothers submitting the prospectus, the worlds first shares of same-sex social networking may have surfaced.

Pink economy promotes the largest LGBTQ community in China

Blueds predecessor is the same-sex community website light blue memories, also known as light blue network, founded in 2000. At that time, the domestic Internet was just popularized, and the pale blue network was launched in the form of web pages. In terms of seniority, blued can be regarded as the forerunner of social platforms.

Looking at the development of blued, behind it is the vigorous development of the pink market.

No matter domestic or global, LGBTQ group is still a small and semi invisible group, but its scale has become increasingly large and clear. According to the data quoted by frost Sullivan in the prospectus, the global LGBTQ population is about 450 million in 2018, and it is expected to grow to 591 million in 2023.

After 20 years of development, blued has become the largest same-sex dating software in China. According to the prospectus, blued has covered more than 210 countries and regions by the first quarter of 2020, with more than 49 million registered users worldwide. Among them, overseas users account for 49%. In countries and regions such as India, South Korea, Thailand and Vietnam, blued has also become the largest online LGBTQ community in the region.

From the perspective of operation data, blued has a strong head advantage and user stickiness. According to the disclosure, the number of monthly active users of blued is about 6 million, and the average number of Mau and dau is far more than that of domestic players of the same kind, 6 times and nearly 7 times of the second place in China respectively. In 2019, the average daily use time of blued active users is more than 60 minutes, and the average daily opening times are more than 16 times, with an average retention rate of 71.0% in the next month.

At the same time, blued achieved stronger revenue growth. According to the prospectus, in 2019, Blue City brothers, the parent company of blued, generated revenue of 759 million yuan, an increase of 51.4% year on year. Among them, live broadcast contributes the most to the revenue, accounting for 88.5%, which is blueds main revenue sector, which is quite similar to Momo. In the first quarter of 2020, blueds revenue reached 207 million yuan, a year-on-year increase of 42.8%.

It is worth noting that although blued accounts for nearly half of overseas users, its cash flow level is still low. According to the prospectus, overseas revenue accounted for only 3.4%, 6.6% and 9.9% of the companys revenue in 2018, 2019 and the first quarter of 2020.

In addition, like many companies listed in the US, blued has yet to make a profit. According to the disclosure, blued had a net loss of 52.93 million yuan in 2019, but it was narrowed compared with 146 million yuan in 2018.

20 years of tortuous development, the founding team once guerrilla warfare

As a representative of a small group, blued is full of difficulties and hardships.

By looking up data at home and abroad, Geng Le learned that he was not a pervert who needed treatment, but the 5% of the population with different sexual orientation. So Geng Le decided to set up a website belonging to the same kind of people to share the news about LGBT at home and abroad, and let them have a place to tell stories and find friends.

In 2000, Geng Le founded the same-sex community website light blue memories, the predecessor of blued. According to reports, the slightly melancholy name comes from Geng Les impression of his hometown - Geng le was born in the coastal city of Qinhuangdao. The color of the sea and sky in his hometown is the origin of light blue.

Since then, Geng Le has shut himself in every day after work, maintaining the special website.

At that time, just three years after the decriminalization of homosexuality, most peoples cognition of gay group was still sick. The group is not recognized, which almost doomed to the difficulties of pale blue net.

Founder Geng Le once said in an interview that in the initial stage, the funds of light blue net were very tight, and only Geng Le could pay his own money and donations from netizens. Whats worse, the website is often reported, the server is shut down twice or three times a year, and the entrepreneurial team has to carry the server around the country guerrilla warfare.

Whats more out of place is Geng Les real identity. Geng Le graduated from the police school at the age of 19, then served as a police officer, and became deputy director at the age of 26. In 2011, Geng Le finally decided to take off his police uniform for 16 years and join the pink economy full-time business. In the same year, Geng Le founded Blue City brothers with 34 employees.

The next year, the mobile app blued officially went online.

At the same time, the transformation towards the public welfare website gives the pale blue network a greater sense of existence, which is also an important factor for it to maintain its first mover advantage for many years. AIDS has always been an important topic in the prevention and treatment of infectious diseases, and gay men are the high-risk groups of AIDS. As early as 2008, Geng Le established light blue public welfare, began to cooperate with disease control centers around the country, popularized disease prevention and control knowledge to users of light blue network, and provided disease monitoring and treatment channels to users in need.

The prospectus mentioned that the blue brothers are not only the spiritual home of LGBTQ group, but also the first company in China to introduce the concept of Internet plus AIDS prevention. At present, in addition to blued and light blue commonweal, Blue City brothers has a service platform focused on male health, and a blue baby focused on personalized family planning services.

Seven rounds of 1 billion financing, small and beautiful is favored by capital

When it comes to pink economy in China, there are usually two key figures: 70 million groups and 300 billion US dollars annual consumption market. The track was once described by the industry as a banknote printing machine to be put into production.

Blued has gone through seven rounds of financing, with a financing amount of about 1 billion yuan. The capital camp behind it is huge.

According to cvsource investment data, a number of well-known institutions and companies, including Shunwei capital, CDH investment, Jiayu fund, Bertelsmann Asia Investment Fund, DCM China, Qingliu capital, Zhonglu capital, Tianyi capital, Yintai capital, Guohong Jiaxin capital, UG capital, new world development, Shanshui leisurely media investment, Hong Kong New World group, have been added.

According to Bloomberg in August 2019, blued may have reached a valuation of $1 billion, becoming the unicorn of the pink economy track.

In addition, the shareholding ratios of CDH investment, Tianze Jinniu capital, Qingliu capital, Xincheng investment and Jiayu fund are 9.4%, 7.6%, 5.7%, 5.1% and 4.4% respectively. Wei Zhe, founder of Jiayu fund, and Ying Wei, general manager of CDH investment, represented the investor to the board of directors.

Behind the favor of capital is investors confidence in blueds vertical track in LGBTQ. Xu Da, founder partner of Shunwei capital, blueds largest institutional shareholder, has publicly stated that they will continue to recognize and support blued and hope to provide more help on blueds international development.

Wei Zhe, founding partner of Jiayu fund, also said that with the C + round of financing, blued has become the worlds first and only Internet company serving LGBTQ group to complete the C + round of financing, and is in an absolute leading position in this field.

Extended reading of Li Jiaqi: there is no two-way companion function in the drop Live Room 618 mobile phone e-commerce promotion: the head brand is busy with the live broadcast, and the small and medium-sized brands have fallen behind the U.S. stock market. The closing price is not the same. Stop at Duoduo B and innovate gaojinshan cloud. The rise is over 15%. This article source: responsible editor of China Investment Network: Zhang Zutao_ NT5054