Meitu acquires stake in Hong Kong-based PressLogic to expand into native advertising

Meitu has acquired a stake in PressLogic, a Hong Kong-based media company that specialises in native advertising, taking a crucial step in expanding its business beyond China's most popular beauty-enhancing selfie application for smartphones.

The app producer, based in Xiamen in Fujian province, has bought a stake in PressLogic, according to Stephen Shiu Jnr, co-chairman of HMV Digital China Group and a shareholder of PressLogic, declining to provide financial details.

A Meitu spokeswoman confirmed with the Post that it had acquired a minority stake in the Hong Kong media company.

PressLogic is a technology company that uses data and technologies like machine learning to better target advertising on social media. The company has a proprietary AI, or artificial intelligence, system called MediaLens that "builds and organises media networks in the digital world", according the firm's website.

The company claims to be "one of the fastest growing media companies in the world" with more than 2.8 million Facebook followers.

Their clients include Uniqlo, Estee Lauder and Samsung.

Read the original article on South China Morning Post. For the latest news from the South China Morning Post download our mobile app. Copyright 2017.

More from South China Morning Post:

More from Markets

Your Need to Know - Forward Look

Your Need to Know - Forward Look

3 Things Investors Can Do to Stay Strategic When the Market's Volatile

3 Things Investors Can Do to Stay Strategic When the Market's Volatile

How to Be a Tactical Investor in the Current Market

How to Be a Tactical Investor in the Current Market

How E-Mini S&P 500 Revolutionized Equity, Electronic Trading

How E-Mini S&P 500 Revolutionized Equity, Electronic Trading

Dow Gains, S&P 500 and Nasdaq Slip; Ford Hits 52-Week Low

Dow Gains, S&P 500 and Nasdaq Slip; Ford Hits 52-Week Low