Taiwan's virtual beauty brand struggles on Wall Street debut | CNN Business

Shares of Perfect Corp., a software company that allows users to virtually try on makeup or jewelry from brands such as Estée Lauder, LVMH and Shiseido, have fallen more than 40% from their listing price since they began trading on the New York Stock Exchange a week ago. Perfect Corp. lends its technology to beauty and fashion brands. It uses augmented reality and artificial intelligence to help users test products online before they buy them.

Cs are shell companies with limited or no operating assets. They usually go public solely to raise money from investors that is then used to buy existing businesses. Daniel Ives, managing director and senior equity analyst of Wedbush Securities, said investors could be cautious about Perfect Corp. because “in a risk-off market, an augmented reality play with Taiwanese roots is a glass-half-empty name.

C merger to expand in Southeast Asia, fund research and development, and double down on new capabilities of its technology, such as letting users try on accessories beyond jewelry. “We just joined jewelry, fashion,” she said. “This is just the beginning.” Perfect Corp. is part of the software-as-a-service industry. The firm now has offices in cities around the world, including New York, Paris, Tokyo and Shanghai, and caters to more than 450 brands, said Chang. It brought in $40.

C, raising at least $335 million in cash at the time. Its shares are down 68% so far this year.

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