BUD Technologies, Inc. (hereinafter referred to as BUD) announced the completion of a $15 million A+ round of financing led by Qiming Venture Capital. The existing shareholders GGV Capital, Sky9 Capital, and Source Code Capital also took part in the round.
BUD, a new-generation UGC social network, empowers every user to create unique 3D interactive content with simple, code-free tools. Its target audience is Gen Z worldwide and it is becoming the new choice for gen Z catching up online. BUD was founded in 2019 by a team of founders from Silicon Valley social platform companies such as Snapchat and Facebook. The company currently has nearly 100 employees and is expected to expand to 200 by 2022.
The funds will be used mainly for overseas business research, development and growth.
BUD has the immersive experience of the meta-universe, the distinct personality of UGC and the intelligent recommendation of massive 3D digital content. Furthermore, the expressions of hot topics, fashion and creativity on the platform are more easily accepted by Gen Z. BUD is committed to exploring the possibilities for social interactions in the future.
According to App Annie, BUD iOS was available overseas on November 5, 2021, whilst the Google Play version was available on October 30, 2021. Sensor Tower data showed that this app was downloaded 1.2 million times per month in December 2021.
