Days after its splashy US IPO, Chinese online loan provider Qudian is undergoing a major crisis as local media has begun questioning the sustainability, validity and morality of their business. Born out of student-based Qufenqi, Qudian first grew by offering small loans to colleges students to capitalize on the rising spending power of China’s younger generations. At […]
Alibaba-backed Chinese online micro-credit service provider Qudian has just raised around $900 million in an IPO in New York on Wednesday. Its American depositary shares were priced at $24 each, above the marketed range of $19-$22. The price is believed to be higher than expected, demonstrating US investors’ huge interest in burgeoning Chinese companies. Qudian, […]
Lexin Fintech Holdings, an online microlending platform targeting young Chinese consumers, on Monday filed for IPO in the US to raise $500 million. According to the company’s IPO prospectus, Lexin plans to list on Nasdaq under the stock code LX. The joint book runners include Goldman Sachs (Asia), BofA Merrill Lynch, Deutsche Bank, and China […]
Buying into Secoo could help struggling Qudian resuscitate its consumer lending platform by expanding into luxury e-commerce.
After a dry spell for tech IPOs in 2016, we are recording a good beginning for a new year with brightening IPO market globally. Snapchat is expected to set a new record for tech IPOs at a 25 billion USD valuation, while a raft of anticipated listings from uprising startups are in the pipeline. As […]
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Qudian CFO said that the termination of the partnership is not expected to hurt the company’s business.
This week we take a look at the swift and harsh reaction from the media to Qudian’s $900 million IPO in the US and China vs US in artificial intelligence. Download this episode Links Emma Lee: Chinese microlender Qudian under fire after splashy US IPO Timmy Shen: Alibaba-backed Qudian raised $900M in IPO in New York, largest […]
Matt and John talk with Zennon Kapron, founder of Kapron Asia, about fintech in China, P2P lending, fintech IPOs, and money in China. Links Emma Lee: Chinese microlender Qudian under fire after splashy US IPO Timmy Shen: Chinese microlender Lexin files for a $500m US IPO TechCrunch Shanghai 2017 – Debate: One coin to rule them all? […]
Huami, a smart wearable device maker for Chinese smartphone unicorn Xiaomi, has officially been listed on New York Stock Exchange (NYSE) under the ticker symbol “HMI,” and has raised $110 million by offering 10 million shares at $11, the mid-point of the planned price range of $10-$12. This comes a few days after the CEO […]