[NEWS] Tencent’s latest investment is an app that teaches grannies in China to dance – Loganspace

Moreover churning out video games for China’s younger generations, Tencent has additionally been attuned to the need of silver-haired customers: its most in style bet is an app that teaches center-age and aged customers, most of whom are feminine, straightforward solutions to dance.

CalledTangdou, or “sugar beans” in Chinese language, the app provided on Monday that it’s raised a Series C funding round led by Tencent with participation from present investors GGV Capital and Xiaomi founder Lei Jun’s Shunwei Capital, apart from to IDG Capital.

The monetary infusion makes for a mesmerizing pass for Tencent, whose WeChat messenger counts customers over the age of 55 as itsfastest-rising team. If truth be told, Tangdou has piggybacked off WeChat to form customers by establishinglite-appsthat are designed for ease of exhaust and bustle within the ever-screen chatting draw, which is many senior customers’ first taste of the rating.

While Tangdou did now not present an explanation for the dimensions of the round, the fresh proceeds brought its entire funds raised to this screen simply about $100 million. It final inked$15 million(in Chinese language) from a Series B funding round in 2016 and another $5 million from a B-plus round in 2017.

“As [China’s] cell web enters the ‘second half of’ of its style section, the markets for maternal and child care, center-age and aged customers have change into the fresh red-scorching verticals,” mentioned GGV’s managing associateJenny Leein a observation.

Of China’s 829 million on-line customers, 12.5 percent had been above 50 years outmoded in 2018, up from 10.4 percent within the year-earlier duration, perdatacalm by the executive-bustle China Internet Community Knowledge Middle.

Screenshots of the Tangdou app / Supply: Tangdou

Clad in color-coordinated costumes, the so-known as demographic of “square-dancing aunties,” a term that in most cases carries derogatory color for the dancers are lashed for blasting deafening song, shimmy in parks, squares and when public house is briefly present, on sidewalks. Dancing within the general public is now a on a regular foundation routine for a full bunch of hundreds and hundreds of feminine retirees in China, a phenomenon that’s fueling an emerging market, and Tangdou is one amongst the gamers who bought in early.

Founded four years ago, Tangdou began by offering video tutorials that inform grannies and aunties straightforward solutions to dance but has over time morphed into a one-quit app gratifying data reading, networking and other wants for its senior customers. The app’s insist material now touches on a huge diversity of topics, from style, meals, smartly being to skin care, and it’s dabbled offline to host meetups for these craving one intention of camaraderie.

All suggested, the firm claims it serves 200 million customers across its fluctuate of products. More than 4,000 offline events happen every month attracting over 500 thousand attendees. 400 thousand customers eat movies and articles on the Tangdou app every month and use a imply of 33 minutes on it day by day. That stage of person loyalty makes Tangdou an perfect fade direct for promoting, which is indeed one amongst the firm’s predominant income sources. Tangdou is additionally mulling an ecommerce industry and other forms of offline services and products, at the side of dance lessons and excursions for its dance enthusiasts.