It’s no secret that Chinese flirty chat app Momo has been flirting with the idea of a US IPO for some time now. Back in May there were reports that the company was planning for an IPO sometime before the end of this year. Now, the Chinese tech media is reporting that the company plans to release its prospectus on November 11 and will be shooting for a December IPO in the USA.
Moreover, according to the reports, the company is aiming pretty high. It’s apparently looking to raise between US$200 and US$300 million and targeting an overall valuation of US$3 billion. In May of this year, The Wall Street Journal reported the company was valued at about US$2 billion following its latest round of investment. That’s a pretty significant jump, but it’s not out of the question for a service that has more than 50 million monthly active users as of July.
Of course, the December IPO plans and the purported US$3 billion valuation have yet to be officially confirmed by Momo. We have contacted Momo for comment, and will update this story if we hear back.
(Source: TechWeb)
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