Soul App, China Gen Z’s First Share of Social Metaverse, announces the Suspension of Its US IPO. It was not caused by civil litigation with its competitors. It is not an exception for companies with civil lawsuits in the IPO process. The original statement issued by its competitor has been deleted. Whether there is defamation is unknown.
The source also mentioned that soul originally planned to raise US $200 million, but had raised more than US $3 billion by the end of the suspension. However, before the listing, some new shareholders proposed to cooperate on strategic cooperation in the future in addition to capital cooperation. Tencent, the major shareholder, also agreed with this option. The strategic cooperation is expected to be announced in the next month.