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Deepti Sri · · 1 min readSources: Home cleaning startup Swan eyes $3b valuation via US IPO this year
“Swan Daojia, the maid and home-maintenance service provider formerly known as 58 Home, has revived its planned U.S. initial public offering as soon as this year,” reported Bloomberg, citing people familiar with the matter.
Details:
- Swan Daojia is set to be valued at about US$3 billion after the potential initial public offering.
- The report also states that China’s Craigslist-equivalent 58.com is no longer the company’s largest shareholder after an investment round in which Sequoia Capital China participated.
Context:
- Swan had delayed its IPO plans early last year after the company was hit by a pandemic-caused slump in consumer demand.
- Launched in July 2014, the company provides services including home cleaning, babysitting, flower delivery, and home appliance repair, among others.
Editing by September Grace Mahino
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