BEIJING – Over the last decade, Chinese tech company Meitu has amassed 1.5 billion users who use its arsenal of photo editing apps to beautify themselves. The Xiamen-based company, which claims to have the largest database of human portraits on the planet, however plans to restructure the company by moving away from merely providing tools and evolving into a social media ecosytem, it said Thursday.
Meitu chief executive officer and founder Wu Xinhong outlined its business strategy for the next decade at a press conference in Beijing. It involves two main shifts, with the upgrades set to take place on Sept. 21. First is taking its main beauty editing app in China, Meitu, and expanding it to behave more like Instagram, which as yet does not have an equivalent in China; and increasing social functions on Meipai, its video editing app, to take advantage of the boom in sharing short video and live streaming.
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