SEEKING ALPHA - May 21 - Soulgate, the Tencent-backed operator of a social networking app, is planning a $100M Nasdaq listing. Soulgate's monthly active user base roughly doubled to 33.2M in March from a year earlier, with 9.1M daily active users. Soulgate's rapid growth has come at a high price. In the last quarter, the money-losing company spent 471M yuan ($71.9M) on sales and marketing, or nearly double its total revenue of 238M yuan. Aimed at Generation Z, Soulgate displays neither images nor real names of its users. Users take a personality test when they sign up.
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