Chinese video player and online video provider Baofeng was listed on Shenzhen Growth Enterprise Market on March 24th, raising RMB510 million (US$82 million). Baofeng closed up 44% on its debut, increasing the company’s market cap to RMB1.23 billion.

Company founder Zhou Shengjun started Baofeng as a desktop video player in 2003, and soon the service became popular with Chinese users in the PC age.

Baofeng made several shifts in strategy and technology focus over the following years to keep up with the rapidly-evolving market. In 2008, it became a tool for streaming content from providers such as Youku, when video streaming becoming ubiquitous.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.