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Chinese Sports Info Platform Prepares to Go Public, Again

By Zhao Runhua / Apr 26, 2019 03:05 AM / Business & Tech

Photo: VCG

Photo: VCG

If "never give up" is a motto for athletes, it may also be the spirit of a Chinese company operating an information platform and online community for sports fans.

After failing in an IPO opportunity in 2016, Hupu is making another try at going public on the Chinese mainland, according to a statement from the China Securities Regulatory Commission.

Established in 2007 and now claiming more than 30 million users, Hupu was not known to many Chinese until 2018, when its community members fiercely criticized acoustic effects that superstar Chris Wu’s team put in his electro songs to cover the star’s poor singing. Wu later composed a song to fight back.

Earlier this year, the company again attracted the nation’s attention. In Hupu's online community, some basketball lovers angrily expressed frustration over an "unqualified" NBA Chinese Lunar New Year ambassador ― pop star Cai Xukun ("蔡徐坤"), as all other ambassadors were talented basketball players such as the Golden State Warriors’ Klay Thompson. Cai has more than 20 million fans on Twitter-like Weibo.

Local investment banks including China International Capital Corp. (CICC) are helping Hupu with the filling. It is unclear when Hupu will submit its prospectus.

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