The digital media company Migme is pleased signed a Memorandum of Understanding (MoU) with new strategic partner Meitu Investment Limited and the placement of 11,650,000 Migme shares to Meitu at AU$0.60 per share raising AU$6,990,000 for the Company. The MOU is to explore joint marketing and product development opportunities. Speaking on the development, Steven Goh
CEO, Migme said, “We are excited to have Meitu as a strategic partner. As one of the largest photo and video apps in the world, they are a leading content producer for China and East Asia, and we very much look forward to our collaboration together.”
The Company plans to work closely with Meitu to implement the sharing of content across the Meitu and Migme platforms, localisation, joint and cross marketing initiatives for Migme’s key markets in the South and Southeast Asian region, with a focus on Indonesia, India and the Philippines.
“Cooperation between Meitu’s amazing products and migme as a platform, could provide an experience set comparable to an Instagram and Snapchat experience, and be a great service for all our key influencers, opinion leaders, driving further growth, engagement and monetisation of the business,” added Goh,