Chinese ecommerce startup Wowo finally achieves its long-delayed IPO

It was beginning to look like Chinese daily deals and ecommerce company Wowo (called 55tuan in China) was never going to achieve its IPO. Initial plans to launch in February were delayed over and over again. When we last checked in with the company, it was due to debut on April 7 – yet another deadline the company missed. But today, finally, Wowo has listed.

The company’s stock debuted at $10/share on the NASDAQ under the ticker WOWO, and closed the day at $10.39. It certainly has not been an amazing debut, but given that there were concerns about the delays and more powerful competitors in the ecommerce sphere, things could definitely be going worse.

Although China’s daily deals market has fallen apart in recent years, Wowo has remained one of the country’s top five daily deals sites even as it pivots into local ecommerce. According to its SEC filings, as of Q3 2014 the company boasted more than 34 million subscribers and covered 150 Chinese cities.