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Kuaishou Technologies

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name

Kuaishou

industry

Internet

employees

1001-5000

founding_year

2011

ticker

1024

filing_information

ipo_file_date

January 2021

nr_of_shares

365,000,000.00

price

$13.55-$14.84

exchange

Hong Kong

bookrunners

Bank of America, Morgan Stanley, China Renaissance

ipo_details

Who is Kuaishou?

Kuaishou Technology is the owner company of Kuaishou, a social community platform, and also the main competitor of TikTok. Designed to generate video and live content for the massive Chinese userbase, the company quickly became a leading content destination for users.

 

Kuaishou IPO statistics

Kuaishou announced its IPO in January, seeking to raise approximately $5 billion. With Bank of America, Morgan Stanley, and China Renaissance as underwriters, the Kuaishou group was set to rise to $6.3bn in a Hong Kong initial public offering on February 5th.

Kuaishou initially priced its shares at $13.55 - $14.84 but opened at $43.60 and closed the trading session at $38.70.

The first deal valued Kuaishou at up to $61.7bn, the highest valuation for a tech company since Uber went public in 2019. Moreover, it had the potential to be the largest IPO since Budweiser Brewing Company raised $5.75 billion in September 2019.

Kuaishou's listing was expected to raise between $4.9bn and $5.4bn, according to a term sheet seen by the Financial Times. The actual figures reached $5.32 billion, higher than expected.


What is Kuaishou's valuation?

Forbes estimated the company's market cap to be US$18 billion.

 

Basic info about Kuaishou

  • Su Hua and Cheng Yixiao founded Kuaishou in 2011, based on previous software engineering experience at Google and Baidu.
  • Kuaishou has also gained considerable popularity outside mainland China, being part of the Google Play and Apple App Store's "Most Downloaded" list in eight countries.
  • In India, Kuaishou is known as Snack Video.
  • It is often referred to as "Kwai" in overseas markets. Kuaishou is headquartered in the Haidian District, Beijing.

 

 

 

Sources: finance.yahoo.com, reuters.com

summary

ticker

1024

price

$13.55-$14.84

exchange

Hong Kong

bookrunners

Bank of America, Morgan Stanley, China Renaissance

key_points

ipo_quick_overview Kuaishou ipoKuaishou

Daily Average Users in China

305 million

Monthly Avg Users in China

769 million

Average daily time/user

86+ minutes

Video & Live Streaming Stats

2.34 trillion

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status

ipo_status_available

ipo_date

03/02/2021

price

$13.55-$14.84

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