Women's fast fashion e-commerce platform, 18 to 35-year-old women's fashion vertical category e-commerce, merged with Mushroom Street in 2016 to form Beauty United Group Co., Ltd

Meili is a large-scale women's fast fashion e-commerce platform in China, committed to providing the most popular fashion shopping experience for young fashion and beauty-loving female users, with more than 100 million female registered users, and users are concentrated between the ages of 18 and 35.

Mr. Xu Yirong founded Beauty Theory in November 2009. At the beginning of its establishment, Meilishuo created a social e-commerce shopping guide model, which quickly attracted tens of millions of young fashionable and beauty-loving female users in a few years, and became a fashion vane favored by young Chinese women. In November 2013, Meilishuo began to establish an e-commerce trading platform, selecting thousands of high-quality sellers and suppliers to provide users with high-quality fashion products in women's clothing, women's shoes, women's bags, accessories, beauty and other categories, and successfully transformed into a women's fashion vertical category e-commerce.

Thanks to the meticulous craftsmanship in the user experience, as of June 2014, Meili said that there are currently tens of thousands of fashionable and high-quality merchants settled in, and its mobile client installed capacity exceeds 75 million, and orders from the mobile terminal account for more than 70%, surpassing the PC side in an all-round way. Meili said that the user stickiness of the mobile client is also very high, and the average daily use time of the mobile client is more than 30 minutes, which is a high-frequency use scenario for young and fashionable girls.

On January 11, 2016, Mushroom Street announced the official merger of Meili Theory, becoming the first merger event in the Internet industry of the year. The entire transaction will be completed in the form of a full share swap, with Mushroom Street and Meilishuo at a 2:1 consideration, and Tencent, as the existing shareholder of Meilishuo, will make additional investments in the new company after the merger, which will result in a new company valued at nearly US$3 billion.

After the merger of the two parties, the two major brands of Mushroom Street and Meili Shuo will remain independent, and the original management and organizational structure will remain basically unchanged. Meili said's HIGO cross-border e-commerce platform does not participate in the merger, and the overseas shopping business after the merger of the two parties may mainly fall on the Tao World, which Mushroom Street once invested.