An app designed to get older women dancing just bagged $15 million in Series B Funding.
The app, called Tangdou Guangchangwu (Public Square Dancing), sees a huge market of about 100 million dancers in China. According to People’s Daily, many of these dancers are middle-aged to elderly women, also known as “damas.”
Tangdou Guangchangwu does more than just teach dancing. On top of video tutorials, it also features a communication platform where damas can coordinate when and where it’s good to meet. A small dancing group can grow bigger when interested people nearby are sent invitations.
Live streaming services, which seem to be taking over China, are also built-in to the app.
Because damas typically control household budgets, travel agencies and financial service providers are seen as promising partners for the app.
Based on Alibaba figures, damas spend generously on dancing clothes and media accompaniment such as radios and teaching equipment, People’s Daily said.
The app is slated for more investment rounds. “Tens of millions of dollars” are expected as total financing, Lieyunwang reported.