Soul APP Revenue, Valuation, Funding & Investors

Soul APP is valued at $620M as of December 2018.

Last Soul APP valuation

$620M

Series C · Dec 2018

Last Soul APP funding round

$177M

Series D · Jul 2021

Soul APP revenue

$244M

Series B · Apr 2018

Soul APP Overview

About Soul APP

Soul App is a Beijing-based social networking platform popular among China's Gen Z users. Launched in 2016, it uses avatars, interest graphs, and AI algorithms to foster virtual connections unconstrained by geography. Features include user-generated content, decentralized distribution, and proprietary technologies like the 2023 Soul X large language model, integrating AI across interactions.


Founded

2016

HQ

ChinaShanghai

Website

soulapp.cn

Status

Privately held

Customer focus

B2C

Revenue model

Advertising

Revenue

$244M (Apr 2018)

Valuation

$620M (Dec 2018)

Soul APP Valuation

Soul APP is currently valued at $620M, based on its Series C in December 2018.

Soul APP's valuation has moved from $620M at its Series B in April 2018 to $620M in December 2018, across 2 priced rounds.

Soul APP valuation by funding round

Revenue multiple
Soul APP valuation by funding round
DateStageValuationRevenue Multiple
Dec 2018Series C$620M-
Apr 2018Series B$620M2.5x

Soul APP Revenue

Soul APP's latest recorded revenue is $244M, as of its Series B in April 2018. At a $620M valuation, that implies a 2.5x revenue multiple.

Soul APP revenue by funding round

Soul APP revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Apr 2018$244M$620M2.5xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Soul APP Funding History

Soul APP has raised a total of $402M across 7 funding rounds.

Soul APP's first fundraising round was a $200K angel round in October 2016. The most recent completed round was a $177M Series D in July 2021.

Soul APP funding rounds

Soul APP funding rounds
DateStageRaisedValuationDeal Summary
Jul 2021Series D$177M-Soul App raised $177.4M in a Series D-II funding round on June 18, 2021, led by investors including Boyu Capital, HoYoverse, Janus Henderson Investors, and Tencent. This was part of a total of $237.4M raised across 7 rounds.
May 2020Series D$135M-Soul App is a Chinese social and stranger dating app launched in 2015, positioned as a Tinder-like platform helping users find soul mates through varied approaches, competing with apps like Momo, Tantan, and iAround. It gained popularity starting in 2017 and had raised funds over multiple rounds by 2020, with a total of $237.4M across 7 rounds by 2021. The specific Series D round on May 14, 2020, following a Series C in December 2018 valued at $620M and preceding a Series D - II on June 18, 2021, raising $177.4M from investors including Boyu Capital, HoYoverse, Janus Henderson Investors, and Tencent. Traction metrics include approximately 2.7 million DAU by January 2019 with 268% YoY growth, though seven-day retention was 53.6% versus peers' 60%, per Jiguang data. Sources note social apps like Soul derive profitability from user growth, with models varying from paid users (Tinder) to diversified streams like live streaming and ads (Momo). The app was still growing but not yet profiting as a latecomer.
Dec 2018Series C$57M$620MSoul App, a social audio app, had a Series C funding round on December 17, 2018, with a post-money valuation of $620 million. The company has raised a total of $237.4 million across seven funding rounds. Soul App continued with subsequent rounds, including a Series D in May 2020 and a Series D - II for $177.4 million on June 18, 2021, backed by investors such as Boyu Capital, HoYoverse, Janus Henderson Investors, and Tencent. Earlier rounds include Series B on January 1, 2018, and Series A - II. The company has ten investors overall.
Apr 2018Series B$26M$620MSoul App is a social audio application focused on interest-based communities, live audio rooms, and virtual gifting features, primarily operating in China. It generates revenues from value-added services like virtual items and membership subscriptions. The company has raised a total of $237.4M across 7 funding rounds from 10 investors. Soul App operates in the competitive social audio and live streaming market in China, similar to platforms emphasizing user-generated content and monetization through virtual goods.
Nov 2017Series A$5M--
Sep 2017Series A$2M--
Oct 2016Angel$200K--

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Soul APP Competitors

Soul APP competitors include listed companies like PKSHA Technology and Reconova Technologies, and private ones like Apprentice.io, Pryon, Applied Compute and Reducto.

Public and private companies comparable to Soul APP
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Apprentice.ioUnited StatesJersey City, NJPrivate--$622M-
PryonUnited StatesRaleigh, NCPrivate--$625M-
PKSHA TechnologyJapanJapanPublicly listed$140M$47M$627M2.4x
Applied ComputeUnited StatesSan Francisco, CAPrivate--$630M-
Reconova TechnologiesChinaChinaPublicly listed$66M($8M)$635M-
ReductoUnited StatesSan Francisco, CAPrivate--$605M-

Soul APP Public Comps

Soul APP is still privately-owned, but its public comps include PKSHA Technology, Reconova Technologies, VNG Corp., ExaWizards, Hello Group, Beijing Hanyi Innovation, Yalla Group, Ropeok Technology Group, Bumble and Datasection.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
PKSHA Technology$140M$47M4.1x2.4x12.2x10.7x
Reconova Technologies$66M($8M)10.0x-(82.0x)-
VNG Corp.$420M$23M1.4x-25.5x-
ExaWizards$77M$13M6.6x5.7x39.3x-
Hello Group$1.5B$215M----
Beijing Hanyi Innovation$28M$5M15.6x13.9x89.9x50.9x
Yalla Group$342M$128M----
Ropeok Technology Group$23M($28M)18.6x-(15.2x)-

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Common questions about Soul APP

When was Soul APP founded?Soul APP was founded in 2016.
Where is Soul APP headquartered?Soul APP is headquartered in Shanghai, China.
Is Soul APP publicly listed?No, Soul APP is a private company.
What is Soul APP's valuation?Soul APP was last valued at $620M in its Series C in December 2018.
How much funding has Soul APP raised?Soul APP has raised $402M across 7 funding rounds.
What was Soul APP's last funding round?Soul APP's last funding round was a $177M Series D in July 2021.
What is Soul APP's revenue?Soul APP's latest recorded revenue is $244M (April 2018).
What is Soul APP's revenue multiple?Soul APP's latest valuation implies a 2.5x revenue multiple ($620M valuation on $244M of revenue).
Which companies are comparable to Soul APP?Companies comparable to Soul APP include Apprentice.io, Pryon, PKSHA Technology, Applied Compute, Reconova Technologies and Reducto.

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