Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Tencent-Backed Plastic Surgery App SoYoung Files for US IPO

The firm could raise around $300 million in the planned offering, according to sources familiar with the matter.
Surgeon bandaging face of a woman | Source: Shutterstock
By
  • Bloomberg

BEIJING, China — SoYoung, a Chinese cosmetic surgery website backed by Tencent Holdings, has filed confidentially for a US initial public offering, according to people with knowledge of the matter.

The firm could raise around $300 million in the planned offering, the people said, asking not to be identified because the information is private. SoYoung could sell shares as soon as the middle of the year, said the people.

SoYoung, founded in 2013, allows customers to review and book nip-and-tuck procedures through its app and websites as well as share treatment experiences via posts, pictures and videos. The company completed a $60 million funding round led by Apax Partners last year, after attracting $50 million from investors including Tencent in 2016.

Final terms of the deal haven’t been set yet and could change depending on investor demand, according to the people. A representative for SoYoung said she couldn’t immediately comment.

ADVERTISEMENT

Any deal would add to the $32 billion of US first-time share sales from Chinese companies over the last 12 months, according to data compiled by Bloomberg.

By Crystal Tse and Vinicy Chan; with assistance from Lulu Yilun Chen. Editors: Ben Scent and Timothy Sifert.

In This Article
Topics
Organisations
Tags

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Beauty
Analysis and advice on the fast-evolving beauty business.

Why Puig’s IPO Timing Couldn’t Be Better

The family-owned Spanish conglomerate has confirmed it will pursue a public offering in the coming months. After a fairly fast transformation, the company now has a bold diversification strategy and a strong mix of brands in place, making it more ready than it has ever been for the European markets.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024