China beauty portal Meilapp.com raises $20m
Morningside Technologies has led a $20 million Series B round of funding for Meilapp, a Chinese mobile portal devoted to cosmetics and skincare.
GSR Ventures, IDG Capital Partners and Yunqi Capital also participated.
One-year-old Meilapp is among the first batch to emerge from Tencent Holdings' incubation program. The mobile platform started out by providing make-up tips and has since expanded into other areas, such as skincare, fashion and weight loss. A total of 40 million users have downloaded the app and there are one million daily active users.
The new capital will be used for brand promotion, marketing and team building, the company told local media.
Two months ago, Morningside and Qiming Venture Partners committed $15 million in Series A funding to Inbilin, a Chinese voice call social networking app. Morningside also took part in a $20 million Series B round for a brand-tagging social mobile app Nice.
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