China's Ximalaya, Qiniu file for U.S. IPOs

Reuters2021-05-03

April 30 (Reuters) - Ximalaya, backed by China's Tencent Holdings , filed for an initial public offering $(IPO.UK)$ in the United States on Friday, cashing in on growing demand as more people tune in to podcasts while staying at home during the pandemic.

China's Qiniu Ltd, a cloud-based platform-as-a-service provider backed by Alibaba Group Holding Ltd , also filed paperwork for a U.S. IPO.

The largest online audio platform in China, Ximalaya had 250 million average monthly average users in the first quarter of 2021, according to a regulatory filing.

Ximalaya, which provides a platform for users to access free or paid content from professional or amateur providers, was valued at $3.71 billion as of July 2018, according to PitchBook. It has raised $225 million in funds from investors including General Atlantic and Tencent.

Founded in 2012, Ximalaya's revenue increased by more than 48% from a year earlier to around 4 billion yuan ($617.95 million) in 2020.

Goldman Sachs, Morgan Stanley , BofA Securities and CICC are underwriters on Ximalaya's offering.

Qiniu and Ximalaya did not disclose any other details about their listing plans on Friday.

($1 = 6.4730 Chinese yuan renminbi)

(Reporting by Noor Zainab Hussain and Sohini Podder in Bengaluru; Editing by Devika Syamnath)

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Comments

  • SandDust
    2021-05-07
    SandDust
    Anyone still listening to podcast? 
  • keaty
    2021-05-05
    keaty
    Capital fm  market  $$$ is so easy..... Will all investor can make easy $$$ as well?
  • MKSoh
    2021-05-04
    MKSoh
    Marverlous
  • LengLeng
    2021-05-04
    LengLeng
    Great
  • Singlish
    2021-05-04
    Singlish
    Wow
  • Fanshuu
    2021-05-04
    Fanshuu
    So so many....
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