Deals
China Video App Seeks Funds at $25 Billion Value Before IPO
- Kuaishou is said to be considering a listing in the U.S.
- Tencent-backed firm raising over $1 billion in a pre-IPO round
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Chinese startup Kuaishou is considering a U.S. initial public offering to bankroll its expansion in short videos and fend off competition from TikTok-owner ByteDance Inc., according to people familiar with the matter.
The company, backed by Tencent Holdings Ltd., plans to list next year, the people said, requesting not to be named because the matter is private. One person said Kuaishou also weighed the option of going public this year. The video startup is raising more than $1 billion at a $25 billion valuation in a pre-IPO round mostly from Tencent, one of the people said.