Launched by ByteDance in March 2024, Maoxiang, an AI companion app, may not yet be a household name, but it has already demonstrated remarkable profitability. Its cumulative revenue from iOS in-app purchases has soared past $22 million, achieving an earnings efficiency five times greater than that of Jimeng AI. On average, users spend more time per day on Maoxiang than on Doubao and Jimeng AI. The app’s core user demographic is predominantly female and comprises Generation Z (those born after 2000), with their willingness to pay (referred to as "Paid Power") being primarily motivated by the emotional value derived from interactions with AI. The platform adopts a microtransaction model, offering subscription memberships and a virtual currency called "cat food." This approach not only eases the financial burden on users but also effectively identifies and retains highly engaged core users through commercialized operations, thereby fueling sustained revenue growth.