Soulgate Inc.

General Information
Business:

(UPDATE – Soulgate postponed its IPO on Wednesday morning, June 23, 2021 – hours ahead of its scheduled pricing tonight.)

(Note: This is an IPO of 13.2 million American Depositary Shares (ADS), which is the equivalent of 19.8 million Class A ordinary shares. Every two ADS represent three Class A ordinary shares. Soulgate is incorporated in the Cayman Islands.)

We created Soul as an innovative solution to address these issues that were plaguing the current paradigm of online social networking. Soul is a virtual social playground, where people can live in the moment, express themselves and draw inspiration from each other’s creativity. It is appearance-agnostic, interest-driven, decentralized and gamified. Our users, or “Soulers,” create brand new identities in our virtual universe to freely create, share, explore and connect, free of the pressure that often comes with the complex and delicate social relations in the physical world and forging the building blocks for a metaverse that defies the traditional boundaries of social networking and games. In March 2021, we had an average DAUs of 9.1 million. In 2019 and 2020, our average DAUs was 3.3 million and 5.9 million, respectively. We have especially attracted young generations in China, who are native to mobile internet and who therefore more palpably experience the loneliness technologies bring. In March 2021, 73.9% of our average DAUs were born in or after 1990.

Note: Revenue and net loss figures are in U.S. dollars for the year ended Dec. 31, 2020.

Industry: Services - Computer Processing & Data Prep
Employees:
Founded: 2015
Contact Information
Address 22/F, SCG Parkside, 868 Yinghua Road Pudong New Area, Shanghai 201204 People’s Republic of China
Phone Number +86 21-2613-5821
Web Address http://www.soulapp.cn/
View Prospectus: Soulgate Inc.
Financial Information
Market Cap $1776.52mil
Revenues $76.32 mil (last 12 months)
Net Income $-74.8 mil (last 12 months)
IPO Profile
Symbol SSR
Exchange NASDAQ
Shares (millions): 13.2
Price range $13.00 - $15.00
Est. $ Volume $184.8 mil
Manager / Joint Managers Morgan Stanley/ Jefferies
CO-Managers BofA Securities/ CICC/ Lighthouse Capital/ FUTU/ Tiger Brokers
Expected To Trade: 6/24/2021
Status: Postponed
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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