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IPO Date 03/02/2021

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Kuaishou

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General info on Kuaishou

 

About the company

  • Name
    Kuaishou Technology
  • Industry
    Internet
  • Employees
    1001-5000
  • Founding year
    2011
  • Ticker
    1024

Filing Information

  • IPO file date
    January 2021
  • No of shares
    365,000,000.00
  • Price range
    $13.55 - $14.84
  • Exchange
    Hong Kong
  • Bookrunners
    Bank of America, Morgan Stanley, China Renaissance
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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

  • Founding year
    2011
  • Ticker
    1024
  • IPO file date
    January 2021
  • Bookrunners
    Bank of America, Morgan Stanley, China Renaissance
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Key Points

Get a quick overview of the essential figures for Kuaishou IPO

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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Kuaishou IPO Sneak peek
See why traders seek and cherish IPOs

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  • Status: Available for trading
  • IPO Date: 03/02/2021
  • Price: $13.55 - $14.84

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