technology Tencent (Zhao Nan) reported on June 21st, after half a year delay in IPO, handle network officially announced yesterday will cancel the IPO application, wait for a more appropriate financing period.
this is not a bad decision. Highland Capital Partners Tu Hongchuan of Tencent technology said that due to the international economic environment quench, at least this year, are not China company to overseas listing of the most suitable period. If the business hard, there may be a break.
can see, even like Facebook in the stock market, after the listing, the stock price is far lower than the issue price. In addition to the handle, the Chinese car rental, Kay race two Chinese companies had also revoked the IPO application, China’s electricity supplier company vip.com bleeding listed.
In addition to
, the originator of group purchase after the listing of Groupon trend also beat the field of investor group purchase. Currently, Groupon shares have fallen from $20 to $11, and has not been profitable.
CEO handle Wu Bo and not too much of a withdrawal of the IPO statement, but he said that the current handle network not eager to find a new direction of financing, but will focus more on internal operations, to improve the company’s operating profit.
Wu Bo believes that in the past year, with the rapid development of the network with the capital to take market share, and access to a certain brand awareness; and this year, the net will enter the fine operation of the stage.
in the past six months, the handle network conducted a series of internal operations, plans to streamline staff, improve staff efficiency, reduce costs.
currently handles network staff of nearly 3000 people, compared with last year’s peak of 40% attrition, but correspondingly, handle network market share also fell to fourth from the first in the country.
according to the domestic group purchase Consultancy Group 800 data show that in April this year, lashou monthly sales of 194 million yuan to complete, behind the U.S. group, Wo Wo Group and public comment.
however, this action is regarded as a handle network in the listing, financing hopeless under the winter move.
a person in the industry of Tencent science and technology, said the Internet is too high because of the handle wheel financing, in addition to the two market, the private market is also difficult to obtain financing. It is reported that the handle online round of financing $111 million, the valuation has more than $1 billion. The valuation is currently more than 2 times the market value of Dangdang, discount site vip.com market capitalization of more than 3 times.
, however, according to the hands of the network last year, the prospectus shows that as of September 30, 2011, net cash and cash equivalents of about $100 million.
Jinsha River venture partner Zhu Xiaohu said Jinsha River has set up a new fund of $133 million, if necessary, continue to support the handle network.
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