Mogu
- 🦄Became a unicorn2016
- 📈Peak valuation$4 Billion ’18
- 💔Became a Unitard2019
- 💸Last valuation~$40M
How it happened
Mogu was a Tencent-backed Chinese online fashion and social-commerce platform, formed by merging the shopping-discovery sites Mogujie and Meilishuo, that blended influencer livestreaming with apparel sales. It was valued at around $4B in private rounds in early 2018, but a cooling market forced a steep down-round IPO on the NYSE that December at roughly $1.3B — and the stock fell about 79% within months. Squeezed by Alibaba's Taobao and Pinduoduo and unable to scale its livestream commerce profitably, Mogu has since withered to a micro-cap worth only $15–20M, a fraction of its one-time unicorn valuation.
Source: Caixin / Bloomberg / Motley Fool (Tencent-backed Chinese fashion social-commerce platform formed by the Mogujie–Meilishuo merger; valued ~$4B privately in early 2018; down-round Dec 2018 NYSE IPO at ~$1.3B; stock fell ~79% within months and trades as a ~$15–20M micro-cap by 2026)
