• Key Point 1: The travel e-commerce platform Klook is evaluating an initial public offering (IPO) in the United States, with rumors suggesting that the fundraising scale could reach up to $500 million.

  • Key Point 2: Regarding rumors of a secret US IPO, Klook's official response is, 'We currently do not comment on market rumors and speculation.'

  • Key Point 3: Klook achieved profitability in 2023 and received investments from notable institutions such as SoftBank and Goldman Sachs. The company's user base is primarily comprised of younger generations, accounting for about 70%, which makes mobile apps and social media key strategies for market expansion.

According to sources familiar with the matter, the travel e-commerce platform Klook is planning to conduct an initial public offering (IPO) in the United States. Market rumors indicate that this fundraising scale will range between $300 million and $500 million (approximately NT$9.74 billion to NT$16.23 billion).

Klook currently has the support of international giants such as SoftBank Group and Goldman Sachs Group. It is reported that Klook has begun collaborating with financial advisors and may soon submit a listing application to the US Securities and Exchange Commission confidentially.

Regarding rumors of a secret US IPO, Klook's official response to (Digital Age) is, 'We currently do not comment on market rumors and speculation.'

What is Klook?

Klook was founded in 2014 in Hong Kong, primarily targeting the broader Asia-Pacific region. It quickly rose with an innovative business model, achieving 'unicorn' status in 2018, and is currently valued at over $1 billion.

It's worth noting that Klook has successfully turned a loss into a profit in 2023, demonstrating its business's ability for sustained growth and profitability. Klook has also successfully attracted the favor of many top international investors, with a star-studded shareholder roster that includes Japan's SoftBank Group Corp. and the United States' Goldman Sachs Group Inc.

At the same time, Klook recently completed a round of new financing led by international growth investment firm Vitruvian Partners in July, raising $100 million, bringing its total financing amount to over $1 billion. Investors also include large multinational investment funds from the Asia-Pacific region such as Indonesia's Golden Vision Capital, and several Southeast Asian venture capital divisions such as Krungsri Finnovate, the investment division of Japan's Mitsubishi UFJ Financial Group (MUFG).

However, the travel experience booking industry is still relatively new, with many competitors including Booking.com, Expedia, and other global travel booking websites, as well as China's Trip.com and South Korea's Yanolja.

Travel 'unicorn' targeting millennial and Gen Z customers

Klook's market strategy precisely targets young consumer groups. According to information previously disclosed by co-founder and president Wang Zhihao, millennial and Gen Z users collectively account for 70% of the platform's total users.

Consumers of this generation heavily rely on mobile devices, with over 80% of orders completed through Klook's mobile app. This user characteristic makes social media platforms a key channel for Klook to win customers and enhance brand loyalty.

Although discussions about an IPO are ongoing, sources familiar with the matter emphasized that the final listing schedule and scale details may still be adjusted based on market conditions, and Klook's official stance is 'no comment'.

  • This article is reprinted with permission from: (Digital Age)

  • Original author: Guo Caihua

  • Original title: Klook rumored to secretly pursue a US IPO, fundraising amount could reach up to $500 million! What does the official say?

‘Taiwan travel unicorn! Klook rumored to secretly pursue a US IPO, fundraising up to $500 million’ was first published on ‘Crypto City’