Besides churning out video games for China’s young generations, Tencent has also been attuned to the need of silver-haired users: its latest bet is an app that teaches middle-age and elderly users, most of whom are female, how to dance.
Called Tangdou, or “sugar beans” in Chinese, the app announced on Monday that it’s raised a Series C funding round led by Tencent with participation from existing investors GGV Capital and Xiaomi founder Lei Jun’s Shunwei Capital, as well as IDG Capital.
The financial infusion makes for an interesting move for Tencent, whose WeChat messenger counts users over the age of 55 as its fastest-growing group. In fact, Tangdou has piggybacked off WeChat to acquire users by creating lite-apps that are designed for ease of use and run within the ubiquitous chatting tool, which is many senior users’ first taste of the internet.
While Tangdou did not disclose the size of the round, the new proceeds brought its total funds raised to date to nearly $100 million. It last inked $15 million (in Chinese) from a Series B funding round in 2016 and another $5 million from a B-plus round in 2017.