China-based Meet You, a female social network and mobile application, has raised CNY1 billion (approximately US$151 million) in new financing from existing investors, including cross-border private equity firm Cathay Capital Private Equity and venture capital firms Matrix Partners and China Renaissance K2 Ventures. Meet You, which is operated by Xiamen Information Technology, will use the proceeds to allow existing U.S. dollar investors to exit as the company dismantles its variable interest entity (VIE) structure in preparation for an initial public offering (IPO) on one of the domestic stock exchanges.