Social Platform Developer WOMO Technology Exceeds 20M Yuan in Round-A Funds
WOMO Technology, a Gen Z-oriented social platform based on AI two-way matching, has received over 20 million yuan ($2.97 million) in round-A financing. The investors in this round include Bianfeng Games, XuYanZe and Huimin Investment, 36Kr reported on August 11.
The company’s main product is the WOMO app, a social software for Gen Z strangers in Latin America, which can provide real-time interactive matching, chat rooms, virtual community, audio and video interaction and other functions.
The reason why WOMO targets the Latin American market is mainly based on three considerations. First, Latin America has a population of 650 million, with an internet coverage rate exceeding 60%. Second, Latin American languages and religions are relatively unified, which reduces many product-level differences. Third, Latin American users are enthusiastic and open, which is conducive to the rapid accumulation of users in the early stages. Latin American users are willing to show themselves. For example, when creating user profile photo and sharing daily life in the community, they usually use real selfie photos, with less landscape or cartoon pictures, and they have low dependence on beauty functions.
Latin America is an emerging market, and the development of the local internet represents a blue ocean for social software products. The advantage of WOMO is that it can be more localized for the Latin American market. For example, the hardware performance and network environment of smartphones in Latin America are generally poor, and WOMO has made targeted optimization in the software size and the occupation of operating resources to ensure local users have a better experience.
Since WOMO was launched on Google Play in May 2021, it has accumulated more than five million users, with an average daily active number of more than 250,000. In terms of promotion methods, WOMO Technology mainly relies on TikTok, Kwai and other delivery channels, and the company has reached cooperation with over 1,000 key opinion leaders (KOLs) to reach more potential users.
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In the future, WOMO will continue to exert its strength in both product and market dimensions. At the same time, WOMO also plans to launch a 3D virtual image system. By introducing game engine, real-time voice recognition and speech synthesis technologies, WOMO will gradually evolve into the field of metaverse.
WOMO is currently focusing on Brazil, and plans to expand to Mexico, Argentina, Colombia and other countries in the future.
