(Yicai Global) March 19 -- Popular Chinese video site Bilibili has switched its planned US listing from the New York Stock Exchange to the NASDAQ Stock Market and raised its fundraising target to between USD441 million and USD525 million, up from the previous estimate of USD400 million, according to its updated prospectus.

The site's operator, Shanghai Hode Information Technology Co., will offer 42 million shares at USD10.5 to USD12.5 apiece, says the updated prospectus, which values the firm at USD3.2 billion according to its median offering price.

Often referred to by its users as "Website B," or "B Zhan" in Chinese, Bilibili features user videos and real-time comments to go with them. It hosts various kinds of content, including animation, music, dance, video gaming, science and technology, and entertainment. User content accounts for some 70 percent of all videos on the platform.

The site posted 76.4 million monthly active users in the first two months of this year, up from 71.8 million in the fourth quarter of last year, the company said, adding that it has over 1 million active video creators or uploaders.

Bilibili originally submitted its IPO application to the US Securities and Exchange Commission on March 3, aiming to raise USD400 million. The company reported total revenue of CNY2.5 billion (USD390 million) and a net loss of CNY101 million last year.

Founded in Shanghai in 2008, Bilibili's content is geared toward a younger demographic, with some 81.7 percent of users born between 1990 to 2009.