Couple days ago, insider from investment bank revealed that DuoWan’s IPO in USA is drawing near. The source also said that DuoWan tapped Citibank, Morgen Stanley and Deutsche Bank to be its co-lead underwriters. The claim seems to be true now as the company’s F-1 filing with SEC could be obtained here.

DuoWan was founded by Li Xueling, former chief editor of Netease in April 2005. Lei Jun, CEO of Xiaomi who is also a prominent angel investor in China’s venture capital world helped fund the China southern Guangzhou-based startup. DuoWan’s main business includes YY Yuyin (audio chatting tool), Duowan.com (gaming portal). YY Yuyin has reached 350m registered users and 10m concurrent users online. Its user coverage is expanding from online gaming sector (players use the tool to audio chat with peers) to the fields of music, e-commerce and even education. And also YY Yuyin’s mobile application has become the second popular communication software in China shortly after its launch.

DuoWan changed its company name to YY Inc. earlier this year, which might indicate it was getting ready for the IPO.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Chelsea Dong

She reads, travels, photographs and writes, with interests in chronicling China tech scene and interpreting how technology disrupts the way people live.