The nine-year-old Chinese company’s decision to list in the U.S., instead of doing so in Hong Kong particularly during the continuous trade war in between the two nations also amazed many.
In an interview with Yahoo Finance on Friday, 36Kr creator and co-chairman Cheng-Cheng Liu stated the business chose to go public on Nasdaq since “our group thinks the U.S. stock exchange is one of the most matured markets on the planet. Likewise, we have organisation beyond China.”
36Kr provides financials on business, market updates, and commentaries. It maintains an English website as well and earns money through advertisements and numerous subscription offerings. The company might aim to broaden its company in North America in the future, stated Liu. He likewise said that the company is betting that “the U.S. and China will be pals again.”
Liu said the recent circumstances such frustrating debut of Uber and incredible fall of We, which delayed its public launching, need to not impact 36Kr’s performance due to the fact that unlike other business 36Kr is “not money burning” and has been rewarding. In the first half of 2019, 36Kr generated a profits of $29.4 million, a 179% year-over-year increase
The business, often called “ Crunchbase * of China,”counts Ant Financial, Matrix Partners China, e.ventures, and Infinity Ventures amongst its financiers and has raised over $100 million in venture fund. Crunchbase, which late last month raised $30 million, began as part of TechCrunch and has actually considering that spun out.