Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.
#SOURCES DIDI XIMALAYA LINKDOC US IPOTIMES SERIES#
LinkDoc just received a strategic investment from Alibaba Health on March 4 and secured 700 million yuan in the series D+ financing round led by CICC Capital last year. Keep, Ximalaya, and LinkDoc call off their US IPO plans. Last year, Burning Rock Biotech Ltd and Genetron Health, two leading companies in China's tumor genetic testing industry, also went public on Nasdaq. Its services are used in hospitals, clinics, pharmaceutical companies, and government administrations, which include the Chinese Medical Doctor Association, and the China Society of Clinical Oncology, among others.Ĭontext: Since the outbreak of the pandemic, the biotechnology sector represented by precision medicine has become a highly sought-after industry in the secondary market. Three other Chinese companies with pending U.S. IPO, nine months after its 11th hour halt to the listing. LinkDoc’s revenue increased by 40.8% from 158.5 million yuan for the three months ended March 31, 2020, to 223.2 million yuan ($34.1 million) for the three months ended March 31, 2021.įounded in 2014 in Beijing by Shan He and Tony Zhang, LinkDoc offers a repository of big data for the healthcare industry such as clinical trials, AI diagnosis, and management. Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. LinkDoc has formally withdrawn its plan to raise 200 million from a U.S. Citing sources, Bloomberg reported last month that LinkDoc was eying to raise $500 million in IPO. The company said the proceeds of the IPO will be used to strengthen its research and development capabilities, investment, and acquisitions. Ximalaya had 267.9 million monthly active users as of last year, one-fifth of the Chinese population, both through its own mobile app and third-party devices such as smart speakers. LinkDoc Technology Ltd, a medical data company backed by Alibaba's health subsidiary, filed for an initial public offering in the US on Monday.ĭetails: In the F-1 filling submitted to the US Securities and Exchange Commission, the company stated that it plans to list its American depositary shares on Nasdaq under the symbol "LDOC". The company sold 317 million American Depository Shares, compared with the planned 288 million, at US14 per share. Alibaba-backed medical data company LinkDoc files for US IPO - PingWest English 中文Īlibaba-backed medical data company LinkDoc files for US IPO J2:28 am On a non-diluted basis, Didi would be worth US67.5 billion.
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