SINGAPORE, Oct. 2, 2015 /PRNewswire/ -- WiFi Master Key (https://goo.gl/BLA6zG), a young and fast-growing unicorn Chinese company, aims to invest heavily in Southeast Asia on the back of its soaring popularity in the region.
The Shanghai-based start-up lets users easily connect to free WiFi hotspots shared by other users, will soon begin recruitment for its new Singapore headquarter - strategically located to tap into fast growing markets in the region. Now, the application tops the chart as the no.1 utility app, and no.5 free app in Google Play in Vietnam and Malaysia.
The company, launched in September 2012, sets the record of being China's first and only unicorn mobile Internet company to achieve a billion-dollar valuation earlier this year, after closing a $52 million Series A funding.
With its promising capacity to scale up, WiFi Master Key is an up-and-coming heavyweight player in the mobile Internet start-up landscape.
Southeast Asia presents huge opportunities for the company, a series of development plans are afoot to expand into the region. According to Chen Danian, Founder and CEO of the company, and a passionate advocate of the trending "sharing economy" concept, "Internet should be made accessible to everyone. Connectivity helps ease poverty. WiFi Master Key aims to help more people get online and find their opportunities through the Internet."
Accurate product positioning and strategic planning have helped WiFi Master Key gain 90% of the China's mobile Internet market share, while quickly gaining popularity overseas. As of August 2015, it has connected a total of 700 million users, 360 million monthly active users, and an average of close to 30 million connections daily.
Within three years, the company has grown rapidly to become China's leading mobile WiFi utility app, joining the likes of instant messaging app giants QQ and WeChat as one of the top three mobile apps in China.
WiFi Master Key is also highly sought after in the capital market. This May, the company initiated an equity crowdfunding and closed with an unprecedented total subscription amount of CNY 7.7 billion (US$1.2 billion). Being oversubscribed by 237 times, it broke the record of both subscription and oversubscription amount in China's crowdfunding history.
In the same month, WiFi Master Key acquired the top-level domain name- wifi.com, and set up an overseas headquarter in Singapore to prepare for its global operations.
SOURCE Wifimaster (Singapore) Pte Ltd