In 2020, 43.3% of its total revenue came from membership subscriptions and paid services. Ximalaya's main streams of revenue comprise subscription, advertising and livestreaming, which monetizes via sales of virtual gifts to users. In 2020, the company's annual revenue was $620.7 million, up 51.3% from its 2020 figures. According to its preliminary prospectus, Ximalaya booked $176.3 million in revenue in the first quarter in 2021, a 65.2% surge from the same period in 2020. The company's revenue growth has been robust since 2018. ![]() This means China's audio content sector, which Ximalaya leads, offers tremendous growth potential.Īccording to Reuters, Ximalaya's valuation reached $3.71 billion in 2018. figure - 47% - over the same period, according to China Insights Consultancy. But China's online audio monthly active users only counted for 16.1% of the country's total mobile internet users in 2020, a penetration rate far below that of the U.S. The popularity of podcasts and audiobooks in China has been growing, with demand for such content particularly high during the pandemic.Ĭhina is the world's largest online audio market by sheer number of online audio users. Ed.īacked by Tencent, Ximalaya is riding a boom of what Chinese tech insiders call the "Ear Economy" (耳朵经济). IPO despite reported warnings from China's cyberspace regulator, and has since seen its stock fall after Beijing levied significant post-IPO penalties on the company.īecause Ximalaya's preliminary prospectus is still available on the SEC's website, and it provides a wealth of information, the below article, based on that prospectus, still provides a valuable resource for those seeking to understand this important company. Ride-hailing giant DiDi went ahead with a U.S. Ximalaya joins a growing group of Chinese tech firms that have decided in the face of regulatory pressure from Beijing either not to IPO in the United States, or not to IPO at all. The FT quotes an unnamed source familiar with the company saying, "After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome." Bloomberg Alibaba Health-Backed LinkDoc Shelves U.S.The Financial Times reported on July 8 that Chinese podcasting platform Ximalaya, Inc., which filed to go public in the United States on April 9, has scuttled its IPO. The new effort, called “Project Texas,” includes physically storing US information in data centers on US servers owned by software giant Oracle Corp. pull out of a debut after Chinas government cracked down on overseas listings. HONG KONG (Reuters) -Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijings clampdown on overseas. HONG KONG (Reuters) -Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms. TikTok is also shifting its platform to Oracle’s cloud infrastructure, which means the app and the algorithm would be accessed and deployed for US users from domestic data centers. “TikTok’s response confirms our fears about the CCP’s influence in the company were well founded,” US Senator Marsha Blackburn told Bloomberg on Friday. “The Chinese-run company should have come clean from the start, but it attempted to shroud its work in secrecy. Americans need to know if they are on TikTok, communist China has their information,” Blackburn said. Deliberations are ongoing and no decision has been reached, they said, adding the plan and details of the pre-IPO round and the Hong Kong IPO could still change. Several senators in a letter dated Monday cited a report in BuzzFeed News that said TikTok’s US consumer data were accessed by company engineers in China. A representative for LinkDoc did not immediately respond to requests for comment. ![]() LinkDoc was slated to raise as much as 211 million from the U.S. ![]() Sources: after the Didi crackdown, China-based fitness app Keep, podcasting platform Ximalaya, medical data analytics startup LinkDoc pause their US IPO. ![]() The lawmakers said in the letter that TikTok and its parent “are using their access to a treasure trove of US consumer data to surveil Americans.” TikTok owner Bytedance, social e-commerce platform Xiaohongshu, fitness app Keep and medical data company LinkDoc Technology have all either shelved or scrapped plans to list in New York. The New York Times reported earlier on TikTok’s response. It pulled its listing plan at the last moment blaming market volatility, Bloomberg News reported in July, with the firm becoming the first known Chinese aspirant to halt its U.S. IPO plans following Beijing’s crackdown on overseas listings.
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