Lots of IPO action is going on this year, with several new listings getting off the ground. Read
CNBC article for a preview: China tech unicorns going public.
China has fast-tracked approval of an IPO of by
Apple iPhone maker
Foxconn. The Shanghai public listing of a business unit of the Taiwan company drew criticism for jumping the queue of Chinese companies seeking a listing. Foxconn's regulatory approval came in 36 days versus an average of nearly two years. China is favoring strategically important industries but the approval was hit for conflict of interest charges.
![Inke](https://files.constantcontact.com/62d136c9001/7db7f0db-0e22-402e-8314-0f361437c3b5.jpg?a=1130202462916)
Chinese video streaming app
Inke is planning a $300 million IPO in Hong Kong after failing with an attempt for a back-door A share listing. Inke was initially funded by
SAIF Partners and
GSR Ventures.
Another Chinese live video streaming startup,
Sequoia Capital and
Tencent-backed
Kuaishou
is aiming to go public in Hong Kong, sometime this year. The latest fund raising for Kuaishou valued the company at $18 billion.
![Lei Jun](https://files.constantcontact.com/62d136c9001/38c993ed-f2dd-4002-bb88-281dd9042bea.jpg?a=1130202462916)
Chinese smartphone maker
Xiaomi is reportedly weighing a dual listing in Hong Kong and New York and gearing up for a $50 billion plus IPO valuation. The Xiaomi IPO could be a home run for such early backers as
Qiming Venture Capital,
IDG Capital,
Morningside Group and Jack Ma's
Yunfeng Capital.
File-sharing company
Dropbox, heading toward a $648 million IPO Nasdaq, saw IPO pricing on Monday that put Dropbox valuation at about one-third its peak in 2014 when Blackrock bought into the company. Dropbox's valuation cut suggests decreases for other companies that similarly raised a lot of money at high valuations but remain unprofitable.
STARTUP FUNDING
Chalk one up for
Huang Bao Che Trip, a Beijing-based online service to book chauffeur and tourist guide service, for raising $50 million from
Sequoia Capital China,
Matrix Partners and others.
Chinese biotech firm
JW Therapeutics pulled in $90 million from Singapore's
Temasek and
Sequoia Capital China to further its work on cancer therapies.
Tencent has pumped $632 million in Chinese online games streaming platform
Douyu. Tencent followed up quickly by also leading a $461 million funding round in rival platform
Huya.
COMMENT:
You really gotta love the creative, far-out logos of these Chinese startups!