CEBU, Philippines -- A Chinese social networking app provider backed by Tencent Holdings has filed to withdraw its plans to raise $185 million in a U.S. initial public offering.
DealStreetAsia
Tencent-backed Soulgate withdraws $185m U.S. IPO
Provider of mobile social network app in China offers no reason for move
Soulgate allows users to create new identities as they share, explore and connect with others. It earns revenue from premium memberships, virtual gifts and voice chats. (Screenshot from Soul App webpage)
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