![]() ![]() On the other hand, Ximalaya will provide innovative products and business service models for host broadcasting, together to build an audio content model and promote the rapid development of the new online economy. Jianjun Yu, the founder of Ximalaya, said that Ximalaya will continue providing good voice and qualified content for users to satisfy their personal needs through technology. Because of this colorful content, the time spent on Ximalaya has greatly increased. The development of audio novels, radio dramas, paid listening courses and other products on Ximalaya has provided users with novel ways of entertainment and learning. They share knowledge, interests and experiences – ultimately seeking emotional companionship on the platform. This year's COVID-19 has brought more and more people onto Ximalaya. It was a playful story that surely worried those in power. In the past eight years, the number of anchors on Ximalaya has come to exceed 10 million – their real life vocations range from product managers to housewives. Didi did not help itself in 2015, when it ran a review in conjunction with state news agency Xinhua about usage at government ministries. Since the rise of the 'listening economy' the new profession of the audio anchor has become a normal part of musical culture online. As a pioneer and practitioner of the 'listening economy,' Ximalaya has diversified the audio industry and built an audio ecosystem where people are encouraged to share content. Ximalaya will celebrate its eighth birthday in 2020. This article first appeared on Nikkei Asia. It’s republished here as part of 36Kr’s ongoing partnership with Nikkei. ![]() The issue is also likely to be factored into keenly watched plans by ByteDance to list some or all of its businesses, such as TikTok. Some 16 companies, including Alibaba-backed Chinese media and data cloud service platform Qiniu, housekeeping services company Daojia, and ForU Worldwide, a digital freight transportation company, were looking to raise over USD 4 billion, people familiar with the transactions said.īeijing has reportedly pressured podcast platform Ximalaya to halt plans to list in the US in favor of Hong Kong due to data security concerns. This marks the fastest start to a year ever recorded by the data provider and compares with six listings that raised USD 2.8 billion in the same period last year.Īnalysts and bankers now expect US IPOs by mainland companies to slump, at least in the short term. Thirty-six Chinese companies have held IPOs in the US this year, raising a total of USD 12.6 billion, according to Dealogic. The company, which provides cancer-focused health care services by relying on big data and artificial intelligence, had planned to sell 10.8 million shares priced between USD 17.50 and USD 19.50 each. Uncertainties exist on how soon “legislative or administrative regulation-making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated,” it said. On Wednesday, it updated its sale prospectus, flagging risks from Beijing’s new directive about overseas IPOs. LinkdDoc, which was founded in 2014, filed for the IPO last month. The S&P500 Index has risen 0.9% during the same time frame. The Nasdaq Golden Dragon China Index, which tracks 98 Chinese companies listed in the US, has fallen 7.9% since the first salvo by the cyberspace agency. The gathering regulatory clampdown has led investors to shun Chinese stocks in the US. Read more: Could Beijing’s probe of Didi’s data security stymie consumer spending? Chinese authorities also announced on Tuesday that rules for overseas listings will be revised and regulatory oversight of companies trading in offshore markets stepped up. LinkDoc’s move comes after the US market debut of Chinese ride-hailing operator Didi Global, which raised $4.4 billion in one of corporate China’s biggest New York IPOs in years, was rocked by intervention by Beijing.Ĭhina’s cyberspace agency announced an investigation into Didi’s handling of customer data and barred it from signing up new customers, sending its shares tumbling and wiping billions of dollars from its valuation just days after its listing.īeijing later expanded its probe to two other companies that listed in the US-logistics company Full Truck Alliance and online recruiter Kanzhun. Linkdoc, which is backed by Alibaba Health Information, had been due to price the deal today, determining how much money it would raise. However, market volatility, regulatory uncertainty, and fear of angering Chinese regulators have prompted the company to cancel the offering, one of the people said. The company planned to raise up to USD 210 million on the tech-heavy Nasdaq exchange and closed its books on the deal on Wednesday after apparent strong demand. Chinese medical data group LinkDoc Technology has called off its US initial public offering at the last minute, two people familiar with the transaction said, becoming the first casualty of Beijing’s clampdown on overseas listings. ![]()
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