Beijing-based SoYoung, China’s largest online medical aesthetic marketplace, has raised funds via an IPO on Nasdaq.
Founded in 2013, the unicorn, which is often called China’s Facebook for plastic surgery, is a community-driven lead generation marketplace, comprising reviews, rankings and videos about medical aesthetic treatments. Consumers can then book services directly through its proprietary platforms.
The company claims over 240 million average monthly views and 84% of total daily user time spent on online medical aesthetic service mobile apps in 2018, according to Frost & Sullivan. It facilitated medical aesthetic treatment transactions to the value of US$306.6m last year. SoYoung had profits of US$8m on revenues of US$89.8m last year.