In addition to churning out video video games for China’s younger generations, Tencent has additionally been attuned to the necessity of silver-haired customers: its newest guess is an app that teaches middle-age and aged customers, most of whom are feminine, dance.
Known as Tangdou, or “sugar beans” in Chinese language, the app introduced on Monday that it’s raised a Sequence C funding spherical led by Tencent with participation from present buyers GGV Capital and Xiaomi founder Lei Jun’s Shunwei Capital, in addition to IDG Capital.
The monetary infusion makes for an attention-grabbing transfer for Tencent, whose WeChat messenger counts customers over the age of 55 as its fastest-growing group. The truth is, Tangdou has piggybacked off WeChat to accumulate customers by creating lite-apps which might be designed for ease of use and run throughout the ubiquitous chatting software, which is many senior customers’ first style of the web.
Whereas Tangdou didn’t disclose the scale of the spherical, the brand new proceeds introduced its complete funds raised to this point to almost $100 million. It final inked $15 million (in Chinese language) from a Sequence B funding spherical in 2016 and one other $5 million from a B-plus spherical in 2017.
“As [China’s] cell web enters the ‘second half’ of its growth part, the markets for maternal and youngster care, middle-age and aged customers have grow to be the brand new red-hot verticals,” mentioned GGV’s managing companion Jenny Lee in an announcement.
Of China’s 829 million on-line customers, 12.5 % had been above 50 years outdated in 2018, up from 10.Four % within the year-earlier interval, in line with information collected by the government-run China Web Community Data Middle.
Clad in color-coordinated costumes, the so-called demographic of “square-dancing aunties,” a time period that typically carries derogatory shade for the dancers are lashed for blasting deafening music, shimmy in parks, squares and when public area is briefly provide, on sidewalks. Dancing within the public is now a every day routine for lots of of tens of millions of feminine retirees in China, a phenomenon that’s fueling an rising market, and Tangdou is among the gamers who obtained in early.
Based 4 years in the past, Tangdou started by providing video tutorials that educate grannies and aunties dance however has over time morphed right into a one-stop app fulfilling information studying, networking and different wants for its senior customers. The app’s content material now touches on all kinds of subjects, from vogue, meals, well being to skincare, and it’s dabbled offline to host meetups for these craving a way of camaraderie.
All instructed, the corporate claims it serves 200 million customers throughout its vary of merchandise. Greater than 4,000 offline occasions happen every month attracting over 500 thousand attendees. 400 thousand customers devour movies and articles on the Tangdou app every month and spend a mean of 33 minutes on it daily. That degree of consumer loyalty makes Tangdou a great vacation spot for promoting, which is certainly one of many firm’s main income sources. Tangdou can also be mulling an ecommerce enterprise and different types of offline providers, together with dance lessons and excursions for its dance lovers.