Meitu provided the funding for the digital media company alongside an agreement to jointly explore marketing and product development.
Photo and video mobile app producer Meitu invested A$7m ($5.2m) in Singapore-based digital media company Migme on Thursday through a private placement.
Migme’s core business is its eponymous chat, microblogging and entertainment app, through which it generates money from in-app purchases, linking to side businesses.
The investment gave Meitu a stake of just under 5% in ASX-listed Migme, Migme founder Steven Goh told Tech in Asia. It was made alongside the signing of a memorandum of understanding to explore joint…
