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Beauty Obsession Drives China Selfie App's $3 Billion Valuation

  • Meitu said to be seeking a valuation of above $3 Billion
  • It could become one of China's 10 largest private startups
Two models take a 'selfie' backstage during a fashion show in Beijing.

Two models take a 'selfie' backstage during a fashion show in Beijing.

Photographer: Wang Zhao/AFP via Getty Images

China’s love affair with physical beauty is helping to fuel a selfie-editing app’s valuation of $3 billion.

Meitu Inc. is shooting for at least that much in its latest funding round, according to people familiar with the company, a target that would make it one of China’s 10 largest private startups and eclipse household-names like Yelp Inc.