Chinese Fitness App Keep to File for US IPO as Soon as Month’s End
Liao Shumin
DATE:  Apr 16 2021
/ SOURCE:  Yicai
Chinese Fitness App Keep to File for US IPO as Soon as Month’s End Chinese Fitness App Keep to File for US IPO as Soon as Month’s End

(Yicai Global) April 16 -- China’s largest mobile sports platform Keep plans to submit its application for an initial public offering in the US as soon as the end of the month and could go public as early as July, Sina Finance reported today, citing people familiar with the matter.

Operator Beijing Calorie Technology has yet to confirm its IPO plans, the report added.

Keep, which had over 300 million users as of last month, has recently appointed a new chief executive, set up a department of investor relations and is recruiting a director for this department, according to public records.

Founded in 2014, Keep’s largest shareholder is founder and Chief Executive Officer Wang Ning with a 85 percent stake.

In January, the Beijing-based company raised USD360 million in F round financing, doubling its valuation to USD2 billion. This latest round was led by Japan’s Softbank Vision Fund and Chinese venture capital firms Hillhouse Capital and Tencent Investment. In eight series of fundraising, the company has secured USD600 million so far.

Editor: Kim Taylor
 

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Keywords:   Keep,IPO