(Yicai Global) Jan. 11 -- Beijing Calories Technology has refuted a report that the operator of China’s most popular workout app Keep is preparing to go public after its latest funding round boosted the firm's value to USD2 billion, The Paper reported today.

Keep has no plans for an initial public offering for now, it said.

Keep “is weighing an IPO as soon as this year,” Bloomberg reported earlier today, citing people familiar with the matter.

The Beijing-based company has just closed its sixth round of financing, raising USD360 million and giving the online fitness coach a valuation of USD2 billion, The Paper said, citing Keep. Financing was led by Japan’s Softbank Group, as well as Beijing-based Hillhouse Capital and US investment management firm Coatue Management.

Last May, the workout app secured USD80 million in E-round funding, led by Hong Kong’s Jeneration Capital Management.

The Covid-19 pandemic has seen a huge surge in demand for online fitness software as people turn to exercising at home. Keep had over 200 million users as of June last year and almost 10 million subscribers who receive customized training programs.

The app turned over CNY1 billion (USD154.4 million) in sales over the 12 months ended June 30, 2020, the 21st Century Business Herald reported at the time.

Editor: Kim Taylor