HONG KONG -- Meitu, developer of China's wildly popular beauty enhancing photo app "Meitu Xiuxiu," has spent years trying to make money out of the self obsession of millions of monthly active users.
Two years after listing in Hong Kong at a value of more than $4 billion, however, loss-making Meitu is going for its own makeover by transforming its flagship photo app into a social media platform and licensing its core hardware business to smartphone heavyweight Xiaomi.
