News

HK-Based Tech Startup Presslogic Raises $10m USD Series A+ Funding

  • The
    round was closed by Meitu, Inc. (SEHK:1357), China's leading image processing
    and social sharing platform
  • Funds will be used to expand
    overseas female lifestyle content and user-generated content (UGC) markets,
    optimize its self-developed data-driven analytics software, as well as to
    exploit the e-commerce sector harnessing its own precise traffic and data

 

HONG
KONG, CHINA - Media OutReach -
7 November 2018 -
PressLogic,
a HK-based technology start-up, today announced it has raised Series A+ funding
of 10 million USD from Meitu, Inc. (SEHK.1357), China's leading image
processing and social sharing platform.

 

The funding will allow PressLogic to
build the female lifestyle content and the UGC community in different
world-class cities, accelerate the growth of its audiences and improve its
services and self-developed data-driven analytics technology to resonate with
its company's motto of
"continually evolving". It
shall also expand into the e-commerce sector harnessing its own precise traffic
and data.

 

The Background Story

 

None was willing to buy the unique
data-driven analytic service invented by PressLogic for optimizing ROI
performances in various social media about two years ago. In order to show its
powers, two young founders of PressLogic then decided to step into the digital
media and content marketing businesses in Hong Kong with exceptional coverage
in lifestyle contents, covering Female Beauty & Fashion, Traveling and
Lifestyle, Business & Finance, Men Lifestyle, Parenting, Cooking, Cats and
Korean Star Interest. Its initial product was simple: PressLogic builds highly
effective marketing networks and community in various audiences vertically to deliver
client's messages to their favourable audiences.

 

Use of Funding

 

"PressLogic that we see and experience today has only
reflected part of our future businesses. We are very excited with the Series A+
investment, as it allows us to expand massively globally and grow to become the
largest female lifestyle digital media & community player in Asia Pacific.

 

"In addition, with the
raise in the capital from Meitu, we will launch our first UGC mobile app
 'GirlStyle' and website under GirlStyle.com branding in Hong Kong plus 5
other places in Taiwan, Singapore, India, Korea, and Malaysia by the end of
2018. This user-generated content platform will enable users to post contents
and comments within the female community. It empowers female to record every
day of their life and everyone can share their feelings and comments in the same
community,
" said Ryan Cheung, PressLogic's
founder and Chief Executive Officer.

 

According to Alexa, a member of
Amazon that measures website popularity, PressLogic.com was currently ranked 2
3 in Hong Kong.
Approximately 75% of its visitors are 18-34 years old. PressLogic has risen to
become the leading lifestyle digital media for Millennials in Hong Kong. (Source from Facebook & Google) Accumulating
almost 8 million Facebook & Instagram fans and followers (with or without
carrying PressLogic and GirlStyle branding across regions) and over 700 million
monthly content impressions on its social media presences & websites,
PressLogic not only showed its capabilities and effectiveness, its
unprecedented fast-growing record also attracted the market's attention and
content marketing opportunities.

 

PressLogic's proprietary methodology
of studying social media market and algorithms of predicting viral topics have
proven to be working very well. Not only has it reached a wide-ranging and
loyal audience, but it has also built strong business fundamentals with
significant growth in revenue and profit with strong partnerships with brands.
PressLogic has been committed to delivering marketing value to its branded
content partner by its data-driven publishing and community management. With
the fresh funding from Meitu, PressLogic will continue to evolve and produce
more high quality original contents and create more impactful branded contents
with partners.

 

MediaLens -- Data-driven analytics software

 

About 80% traffic of PressLogic.com is from mobile, and the
percentage is still growing. Across its social media channels and website,
PressLogic is generating over 700 million monthly content impressions.

 

MediaLens, the self-developed
data-driven analytics software combined with machine learning capabilities for
optimizing ROI performances in various social media. It sources popular
feeds, news, comments and hot topics from the internet 24/7. By analysing
popular topics in each interest community, the system has the ability to
suggest specific content that are likely to go viral for the specific interest
community. It reinforces itself recursively from the content published, as well
as facilitates the creative process to optimize results. Backed up by in-house
editorial and creative experts, PressLogic keeps delivering high-quality
content.

 

PressLogic revealed that, in the
future, its data-driven analytics system would be opened up to all other social
media operators including marketers and influencers to broaden the company's
revenue source, assisting them to harness the data insight for better content
analysis so as to improve the overall ROI on contenting. Meanwhile, PressLogic
would like to enhance the data collections and foster the system learning
predictive power on content virality.

 

Next Stage

 

Moving forward, PressLogic will
continue to upgrade its core technology -- MediaLens through data collections
and content optimization. This will be the foundation to build the UGC platform
and grow the effective female community in different places. By leveraging its
precise traffic and data, PressLogic will extend its business into the
e-commerce frontier, achieving its motto of
"continually evolving".

 

With over 140 team
members worldwide, PressLogic now operates MediaLens (analytics technology),
GirlStyle (UGC community), and Digital Media & Content Marketing in several
major Asian places including Hong Kong, Taiwan, Singapore, India, Korea and
Malaysia.  

 

Founders


Founders of PressLogic, Ryan Cheung as CEO (Left in the photo) and
Edward Chow as CTO.

 

Ryan Cheung as CEO and Edward Chow
as CTO, founders of PressLogic, were born in 1988 in Hong Kong. Both of them
were graduated from the University of Hong Kong in different streams.

 

Ryan has graduated with a degree in
BBA (Accounting and Finance), worked in various investment bank's Equity
Markets and Commodities Division while responsible for the sales and
structuring of derivatives and structured products. At the age of 26, he joined
Leonteq Securities AG (formerly EFG Bank Financial Products) as Director in
Asia, responsible for structured solutions business and expanding its Asia
franchise. Leonteq is a leading and disruptive expert for structured investment
products supported by its market-leading technology platform, listed in SIX
Swiss Exchange.

 

Edward has graduated with a degree
in BBA (Information System), worked in Deloitte and various IT consulting
firms. He was responsible for large amount of system implementation and
auditing tasks for clients including HK Government and traditional banks. He has
been a Certified Information Systems Auditor since 2013.

  

About PressLogic

 

PressLogic, a technology start-up
company based in Hong Kong, was established in 2016 and started from MediaLens,
its self-developed data-driven analytics system combined with machine learning
capabilities for optimising ROI performances in various social media, that uses
data to build highly effective media networks in the digital world. Its
unprecedented fast-growing record on social media publishing business,
accumulating almost 8 million Facebook & Instagram fans and followers, as
well as over 700 million monthly content impressions on its social media
accounts & websites, attracted the market's attention. In 2018, PressLogic
has successfully
raised its Series A+ funding of USD 10 million from Meitu (SEHK:1357), China's leading image processing and
social sharing platform.

 

Its core business areas include
MediaLens (technology & data), GirlStyle (user-generated content (UGC)
female community), and Digital Media & Content Marketing, boasting
operations in Hong Kong, Taiwan, Singapore, India, Korea and Malaysia.

 

Official website: www.presslogic.com
  

 

About Meitu Inc.

 

Established in October 2008, Meitu,
Inc. is China's leading AI-driven photo/video processing and sharing platform.
With a mission "to inspire more people to express their beauty", the
company has developed a rich portfolio of software and smart products based on
the concept of beauty, including but not limited to the Meitu app (social
network), BeautyCam (photo editing & selfie camera app), Meipai
(pan-knowledge short video platform), MeituBeauty (e-commerce platform) and
Meitu Smartphones.
On 15
December 2016, Meitu, Inc. was listed on the Main Board of the Stock Exchange
of Hong Kong Limited (stock code: 1357).

To Top