Mergers & Acquisitions

Meitu acquires stake in Hong Kong-based PressLogic to expand into native advertising

PUBLISHED : Thursday, 07 December, 2017, 4:30pm
UPDATED : Friday, 08 December, 2017, 12:16am

Meitu has acquired a stake in PressLogic, a Hong Kong-based media company that specialises in native advertising, taking a crucial step in expanding its business beyond China’s most popular beauty-enhancing selfie application for smartphones.

The app producer, based in Xiamen in Fujian province, has bought a stake in PressLogic, according to Stephen Shiu Jnr, co-chairman of HMV Digital China Group and a shareholder of PressLogic, declining to provide financial details.

A Meitu spokeswoman confirmed with the Post that it had acquired a minority stake in the Hong Kong media company.

PressLogic is a technology company that uses data and technologies like machine learning to better target advertising on social media. The company has a proprietary AI, or artificial intelligence, system called MediaLens that “builds and organises media networks in the digital world”, according the firm’s website.

The company claims to be “one of the fastest growing media companies in the world” with more than 2.8 million Facebook followers.

Their clients include Uniqlo, Estee Lauder and Samsung.