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The company places its app on major mobile app platforms and uses online media to spread information about its service. Ximalaya has received at least $1.5 billion in equity investment from investors including Xima Holdings, Touch Sound, Xingwang entities, Trustbridge Partner and Image Frame Investment. Management is headed by co-founder, Chairman and CEO Jianjun Yu, who was previously founder of and Shanghai Jietu Software Technology Co.īelow is a brief overview video of Ximalaya: Shanghai, China-based Ximalaya was founded to create an online marketplace for audio content producers and listeners in China.
I’ll provide a final opinion when we learn more about the IPO from management. XIMA has grown revenue and gross profit quickly but is generating high and increasing operating losses and hasn’t provided any information on its customer retention metrics. The firm provides an online audio streaming platform for users in China.
#Sources didi keep ximalaya linkdoc us registration#
Ximalaya ( XIMA) has filed to raise $100 million in an IPO of its American Depositary Shares representing underlying Class A shares, according to an F-1 registration statement. According to a report by Cailian Press, these apps have now resumed new user registrations.Photo by metamorworks/iStock via Getty Images Quick Take In July, 2021, the National Cyberspace Administration carried out a network security review on its apps “Yunmanman” and “Huochebang” and set limits on the registering new users. On June 22, 2021, the company was listed on the New York Stock Exchange.
#Sources didi keep ximalaya linkdoc us drivers#
SEE ALSO: Ride-hailing Didi to Be Delisted from NYSEįull Truck Alliance has been committed to building an efficient platform to match drivers and consignors. It also asked the company to stop registering new users, citing national security and public interest reasons.
A few days after Didi went public in New York, the Chinese regulator ordered the removal of 25 mobile apps operated by the company. Investigators conducted a month-long on-site investigation into the companies’ internal records, emails and internal communications, but authorities did not find any substantive problems with the companies, according to people familiar with the matter.Īmong the three companies, Didi has been the hardest hit and still faces scrutiny from Chinese security departments and relevant departments in the US. last June, but soon after, the Chinese government began to strengthen network censorship and conduct data security investigations into these companies.
But the three companies are expected to face financial penalties while offering the government a 1% stake and direct government involvement in corporate decision-making.Īll three companies were listed in the U.S.
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As a result, these companies’ apps will now be allowed to be listed on domestic app stores and allow new registrants, the Wall Street Journal reported on Monday, citing people familiar with the discussion.Īffected by the news, Didi’s stock price soared by over 60% and Full Truck Alliance’s rose by over 37%, while Kanzhun’s rose by over 20%. Chinese regulators are concluding their probes into ride-hailing platform Didi, digital freight platform Full Truck Alliance, and online recruitment platform Kanzhun, in preparation of lifting the current ban on adding new users.
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