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Miguel Cordon · · 1 min readTencent-backed Chinese jobs portal Boss Zhipin files for US listing
“Kanzhun Limited, operator of mobile recruitment app Boss Zhipin, on Friday filed privately for an IPO with the US Securities and Exchange Commission,” Pandaily reported.
Details:
- In its prospectus, the company said it had 24.9 million monthly active users during the first quarter of this year, increasing by 71.8% year on year. No financial details of the IPO were disclosed in the filing.
- Boss Zhipin also saw a 94.7% increase in overall revenue in 2020, generating over 1.9 billion yuan (US$298 million) in the year compared to 998.7 million yuan (US$155 million) in 2019.
Context:
- The company said it will use the funds from the IPO to invest in infrastructure, research and development, and marketing initiatives.
- In November 2019, Tencent led a round of funding in Boss Zhipin. The recruitment startup runs 18 business branches across China and entered the US market in April 2017, opening physical offices in California and New York city.
Currency converted from yuan to US dollar: US$1 = 6.43 yuan.
Editing by Collin Furtado and Jaclyn Tiu
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