The corporate has picked up a 57% stake in SoftBank-backed professional social network Dajie for just over $50m in cash and shares.
Photo editing app developer Meitu has paid HK$395m ($50.3m) for a 57% stake in China-based professional networking platform Dajie Net Investment Holdings, China Money Network has reported, citing a regulatory filing on Wednesday.
The transaction consists of approximately $6.7m in cash and 85.7 million shares that are valued at $43.7m in total.
The company’s earlier backers include Softbank China Venture Capital, an investment vehicle for telecommunications firm SoftBank, but it is unclear whether it has exited through the deal.
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