Mogu Street’s Investment Strategy
On September 11, Mogu Street, a prominent player in China’s e-commerce landscape, revealed a significant investment strategy approved by its board for the second quarter of this year. The company is pivoting towards digital currency assets, notably Bitcoin, Ethereum, and Solana, alongside related securities and investment products. This shift not only aims to diversify their financial portfolio but also enhances their long-term asset value in the evolving digital marketplace.
Integration of AI and Digital Assets
Leveraging Mogu’s established expertise in artificial intelligence, the company’s strategic reallocation of resources is set to propel its involvement in decentralized applications and services. By embedding digital assets into their ecosystem, Mogu Street intends to create an environment where users can interact with AI-driven services through these digital currencies. Customers will find that their purchases of cryptocurrency can be used to access premium features and services, while also allowing for the earning and spending of digital assets within the platform.
Acquisition of Digital Currencies
In alignment with this initiative, Mogu has commenced acquiring digital currencies from regulated trading platforms, such as HashKey, positioning these assets as a future-focused store of value amid the rise of decentralized computing and data frameworks. This approach is designed to support the development of decentralized AI products, ensuring the company remains at the forefront of technological trends and innovation.
Company Background
Founded in 2011, Mogu Street (MOGU Inc.) specializes in social e-commerce, particularly in the women’s fashion sector. Over the years, the company has attracted significant investments, raising over $400 million through six funding rounds from major investors, including Sequoia Capital and IDG Capital. Mogu Street made its debut on the New York Stock Exchange in December 2018, with its current market capitalization standing at $20.43 million. The company’s strategic direction illustrates its commitment to evolving within the rapidly changing digital landscape, with a strong emphasis on integrating blockchain technology and AI.
