Soul App Makes the Hurun Global Unicorn Index 2023

SHANGHAI, April 28, 2023 /PRNewswire/ — The Global Unicorn CEO Conference 2023 and Unicorn Awards Dinner, hosted in Guangzhou on April 18th , saw Soul App join the Hurun Research Institute’s Global Unicorn Index 2023, alongside ByteDance, Ant Group and OpenAI.

Soul App Listed on the Hurun Global Unicorn Index 2023
Soul App Listed on the Hurun Global Unicorn Index 2023

Across the global economy, unicorns (privately held startups valued at over US$1 billion) are considered a mirror of the growth potential of emerging enterprises and industry innovation capacity as well as a barometer of new economic development.

The rise of unicorns has transformed the way people live and consume, and their relentless innovation has fueled robust, sustainable industry development. Among those unicorns on the list, social network platform Soul App has consistently displayed high growth potential in recent years, garnering widespread market interest.

SOUL’s updated prospectus reports that the average time spent per DAU (daily active user) on the app hit 46.4 minutes while 63.7% of MAUs (monthly active users) were active for at least 15 days in 2022, reflecting strong user stickiness. In the same year, Generation Z represented more than 78% of the MAUs on SOUL, cementing its status as one of the online products with the greatest penetration among younger generations.

The app has gone to great lengths to strengthen technological innovation and build a solid platform ecosystem, with an eye towards providing the optimal user experience. For instance, it has developed a suite of proprietary technologies in-house – in particular, its smart recommendation system Lingxi and 3D avatar rendering engine NAWA – and it will continue to develop new features centered around users’ socializing needs as well as more diverse and immersive interaction scenarios to enhance its appeal to young users.

SOUL has two secret sauces for its strong showing. First, its expansive, sticky and highly active user base underpins steady growth. Second, a friendly, inclusive platform culture and a diverse, innovative range of engagements have attracted a young cohort of high-value users, who finally have a space to share their thoughts and emotions without holding back.

As unicorns attract deep-pocket capital and epitomize market vibrance, SOUL’s appearance on the Global Unicorn Index underscores the strong momentum and bright prospects of China’s social network industry.

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