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A few weeks ago, Tang Dou (糖豆) – an app that teaches aunties and grannies in China how to dance – raised a Series C funding round led by Tencent. It was founded in 2015 as a square dancing tutorial app, but has now pivoted to a content and community platform. China’s retired women (known as ‘dancing grannies’) can use it to coordinate dance meetups in public spaces. Each month, Tang Dou contributes to more than 4,000 dance meetups for over 500,000 attendees.

Okay, so the square dancing craze in China is nothing new. It’s a cultural phenomenon that started in the mid-1990s, with deep roots in ancient Chinese history (as far back as 2300 BC!). But the recent Tencent investment in Tang Dou sparks fresh insights…

Mass mingling. By 2050, the number of elderly citizens in China will reach 487 million, about 35% of its population (China National Committee on Aging, 2018). Square dancing helps them to stay fit and find a sense of belonging. There is even a saying among square dancers: “If you dance fast enough, the loneliness will not catch up”. But they are faced with hurdles, such as cold winters and government regulations. Tang Dou harnesses the power of technology to help dancing grannies connect more meaningfully and coordinate more efficiently. A case in point: in March 2018, it coordinated a mass square dance in Hunan that broke the Guinness record. Aging populations (and caregivers) the world over face the concerns of rising healthcare costs and isolation amongst the elderly. Longer lifespans present a monumental challenge and a monumental opportunity. Are you giving it the attention it deserves?

Surprisingly mobile. Professionals in almost every sector are guilty of focusing on the mobile behavior and spending power of young consumers. Gen Y want this... Gen Z do that... For Tencent, users aged 55 and above are the fastest growing cohort in its WeChat app. The move to back Tang Dou might just be the key to building a strong real-world presence for that segment. Are you – like the rest of us – guilty of over-focusing your innovation efforts on the youth? A professor remarked that square dancing grannies had become capitalism’s next frontier!

 
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