China continues IPO streak as hugely popular mobile developer files for NYSE listing

  0 Comments and GO logosGuangzhou-based Sungy Mobile today filed with the SEC to raise up to $80 million and be listed on the NYSE under the ticker GOMO.

Sungy makes dozens of apps, the most popular of which is GO Launcher with 42 million monthly active users. GO Launcher is a customizable Android homescreen replacement app available in 38 languages and with users in more than 200 countries. Besides the built-in apps on most Android phones, it’s one of only 10 apps on Google Play to exceed 100 million installs.

All of the GO series apps – task managers, clocks, notes, calendars, weather, etc – have a combined 80 million monthly active users. Sungy says 70 percent of its app users are from outside of China.

Sungy’s subsidiary Jiubang runs, a popular Chinese mobile portal for news, apps, videos, and more that got 44 million unique visitors last month.

The company reports $22.7 million revenue in the first half of 2013 with $5.45 million in net profit.

A quick recap of China’s 2013 tech IPOs

  • China’s first tech IPO of the year went to B2B e-commerce site LightInTheBox (NYSE:LITB), which also went public on the NYSE in June. So far, it’s the only Chinese tech IPO to be completed this year.
  • Online game developer Forgame Holdings is seeking $222 million for an IPO in Hong Kong.
  • The Baidu-backed Qunar filed for $125 million at the end of last month on the NYSE.
  • Yesterday, we reported China’s biggest online classifieds site is ready to IPO on the NYSE at the end of this month. It hopes to raise $170 million to $190 million.
  • Sungy’s IPO announcement comes on the same day as’s, an online Chinese service that aggregates and processes sports lottery purchases. It’s looking to raise $150 million.
  • Eventually, Renren spinoff Nuomi and e-commerce retailer Jingdong are also expected to file for IPOs, although an exact timeline has not been set.
  • Of course, all of these are chump change compared to what is probably the most anticipated Chinese IPO of all time: Alibaba. The e-commerce titan is expected to raise $15 billion to $25 billion once it finally chooses a stock exchange.

Earlier this year, we predicted nine major Chinese companies would likely IPO in 2013. Some we got right, some we got wrong, and some we’re still waiting on.

(Hat-tip to TechNode for spotting)

Update: Added Forgame Holdings to list.

(Editing by Willis Wee)

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