Monday, July 26, 2021

“Quisho” is turning into a gigantic entity .. Learn about the largest technology offering since “Uber” in numbers

The IPO supports Kuaishou Technology, the operator of the Hong Kong Stock Exchange’s short video social media app, outpacing its rival, ByteDance, albeit for a short period of time.

Today, Friday, the shares of the company, which has the second largest application in terms of the number of users in China, began trading, which is comparable to the local version of the world famous “TikTok” application owned by “ByteDance”, known as “Duane”.

The company’s IPO recorded record numbers in light of the great turnout of individual investors to buy the share, and in terms of the total value of the subscription, as the company raised $ 5.4 billion, making it the second largest IPO since Uber’s IPO, which raised $ 8.1 billion in May of this year. 2019.

The two former Google employees, Su Hua and Cheng Yishiao, founded the application in 2013, which allowed users to share a short video containing animated GIFs, to be developed after that in 2016, and the possibility of live broadcasting is added. Since then, Quisho has become a strong competitor among the most popular social media apps in the world.

With the increase in competition from “ByteDance” in terms of the size of the funds it targets, it intends to raise through the proceeds of offering the shares of some of its works for public subscription on the Hong Kong Stock Exchange, which was announced by “Bloomberg News” last November, and the subscription of “Quish” shares became an opportunity To prepare for the next phase of the competition.

Statistics about the company

  • 305 million average number of active daily users within China of the “Qisho” app.

86 minutes The average time that app users spend per day.

  • 2.3 trillion the number of short videos, live broadcasts, posts, and comments on the app.
  • 19941 number of employees.
  • 40.7 billion yuan ($ 6.3 billion) in revenue for the company during the first nine months of 2020, which ended on September 30.

IPO statistics

  • 115 Hong Kong dollars (US $ 14.83) the price of the “Qisho” share that was sold in the IPO, which is the cap of the price range in which the IPO was marketed.
  • 250 Hong Kong dollars, the price of “Quechou” shares in the “gray market”, which is designated for institutional investors, according to Bloomberg News.

365.2 million shares were sold to investors before the company issued shares in excess of the limit specified in the subscription.

  • $ 5.4 billion proceeds from the IPO.
  • $ 60.9 billion, the market value of the company, according to the IPO.

The IPO will result in the company’s owners Su and Cheng joining the list of billionaires with an estimated wealth of more than $ 5.5 billion, according to the Bloomberg Billionaires Index, and data compiled by Bloomberg.


  • 1204 the number of retail investor purchase orders for every share offered for sale, according to the company’s statement.
  • 1.28 trillion Hong Kong dollars ($ 165.1 billion), the total volume of purchase orders from individuals participating in the IPO, according to the “IFR”, making this the highest value of purchase orders for individuals in the history of the Hong Kong Stock Exchange.
  • 10 primary investors who are obligated to keep their shares for a period of six months, in exchange for allocating a guaranteed number of their own shares before the subscription. The value of those shares amounted to $ 2.5 billion, which were shared by companies: Capital Group, Infsco, Fidelity International, Temasek Holding and GAC.

Where is the importance of the IPO?
The IPO turns “Quisho” from a fledgling company into a giant, thanks to the use of billions of subscription proceeds and others to increase its ability to compete fiercely in the fields of live broadcasting, as competition is intense with local platforms, such as “Goi” and “Momo”, as well as in the field of videos. Short; ByteDance excels by acquiring double the number of users per day through the application of “Dwin.” While competition may rage with the launch of “Tencent Holding” short videos within the application of “WeChat”.

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