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- Soul APP
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
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
Website
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| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2018 | Series C | $620M | - |
| Apr 2018 | Series B | $620M | 2.5x |
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
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2018 | $244M | $620M | 2.5x | Series 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
| Date | Stage | Raised | Valuation | Deal Summary |
|---|---|---|---|---|
| Jul 2021 | Series 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 2020 | Series 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 2018 | Series C | $57M | $620M | Soul 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 2018 | Series B | $26M | $620M | Soul 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 2017 | Series A | $5M | - | - |
| Sep 2017 | Series A | $2M | - | - |
| Oct 2016 | Angel | $200K | - | - |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSoul 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $622M | - | ||
| Private | - | - | $625M | - | ||
| Publicly listed | $140M | $47M | $627M | 2.4x | ||
| Private | - | - | $630M | - | ||
| Publicly listed | $66M | ($8M) | $635M | - | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $140M | $47M | 4.1x | 2.4x | 12.2x | 10.7x | |||
| $66M | ($8M) | 10.0x | - | (82.0x) | - | |||
| $420M | $23M | 1.4x | - | 25.5x | - | |||
| $77M | $13M | 6.6x | 5.7x | 39.3x | - | |||
| $1.5B | $215M | - | - | - | - | |||
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
| $342M | $128M | - | - | - | - | |||
| $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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