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In January 2016, Mogu acquired rival fashion platform Meilishuo. The merger formed a business that was at that time valued at an estimated $3 billion.
Mogu Inc went public on the NYSE on December 6, 2018, under the ticker symbol MOGU. 4,750,000 shares were offered at a price of $14 per share, raising a total of US$66.5 million.
After the IPO, Chen Qi directly held shares of 11.3%, with 79.3% of the firm's voting rights; co-founder Yue Xuqiang held 3% of shares, with 0.7% voting rights, with Wei Yibo holding 4% of shares and 0.9% voting rights.
Tencent is Mogu's largest shareholder, holding 17.2% and having 4% voting rights. Hillhouse Capital Group holds 9.8% and has 2.3% voting rights.