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Stock impact report

New Content Platform From China Tries Out Nasdaq [Forbes]

36Kr Holdings Inc. - American Depositary Shares (KRKR) 
Company Research Source: Forbes
New Content Platform From China Tries Out Nasdaq For some understanding of how heated the Chinese startup market has been, consider that a China-founded media platform covering the action, 36Kr Holdings, went after a Nasdaq listing only nine years after its founding in Beijing by a first-time entrepreneur Chengcheng Liu. Liu told me he went for the trophy IPO in the U.S. for “improving our brand image.” He acknowledged that it is a tough time for Chinese companies to go public in New York, considering the ongoing tensions over trade and tech power between the two superpowers China and the U.S. The going public move was a bold one for the 30-year-old, who has seen dozens of Chinese startups he’s covered over the years go down the same road. His own move paid off, sort of. His startup filed to raise $57.6 million but slashed the offering size and tumbled by 10 percent in its Nasdaq debut to end up raising $20 million. That’s a small sum compared with the $50 million in venture capital Show less Read more
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