iqiyi is listed on nasdaq everbright-九游会登录

everbright-idg industrial fund (hereinafter referred to as “everbright-idg fund” or “the fund”), co-founded by china everbright limited (hereinafter referred to as “cel”, stock code: 165.hk) and idg capital, announces that iqiyi, invested by the fund, was listed on nasdaq on us local time march 29 with stock code iq. the offering price of iqiyi is 18 dollars per share. the total amount of capital raised is 2.25 billion dollars, ranking as “the first stock of chinese video website”.

as the largest chinese platform for internet videos in the world, iqiyi’s successful listing signifies that the “tech-based entertainment giant” has marched towards a brand-new development stage, and everbright-idg fund has begun to embrace its harvest, making the project a milestone for funds investing in entertainment.

iqiyi, established in 2010, is a chinese entertainment platform. with ip development as the core, it integrates literature, animation, movie, television, internet self-made contents, game, show and mall, and serves as an entertainment platform that provides users with diverse entertainment services. iqiyi now possesses the largest 九游会登陆 copyright database, the most paid members for subscription, the largest scale of pc and mobile end users, and the leading ability for producing movie and television contents. the self-producing contents of iqiyi includes the top internet shows, e.g. the rap of china, hot blood dance crew, let’s talk, who can who up; most popular internet tv series, e.g. tientsin mystic, burning ice, happy ever before, time raiders and so on. iqiyi has grown into the trendsetter of chinese “pan-entertainment” industry and one of the most influential entertainment platforms.

as shown in the prospectus of iqiyi, by the end of q4 of 2017, the monthly average accessing users of iqiyi reached about 420 million person-times, the daily average accessing users by mobile was 126 million person-times, and the user’s activeness had taken the lead in chinese mobile application market. by february 28, 2018, the platform’s paid users for subscription reached 60.1 million and its user base number and growth rate were at a fairly high level globally.

iqiyi raises capital of 2.25 billion dollars, which will be used for obtaining and producing contents, development and as a supplement to working capital. in the future, the company plans to base on new technology such as ai and big data, in order to expand the investment in areas such as original contents, technology innovation, pan-entertainment ecology, user base number and monetization channels.

on account of its confidence in the long-term prospect of china’s fast-growing video entertainment industry, everbright-idg fund invests firmly in iqiyi in the beginning of 2017. “as an industrial investor, we have confidence in iqiyi’s development in the long term. it boasts a very excellent team and its corporate culture encourages passion, tenacity, creativity, and strong execution. iqiyi showing us the outstanding content producing ability, strong leadership and industry leading technology strength, all of those precious traits enable iqiyi to achieve continuous growth in such a competitive field of pan-entertainment and become the leader of this industryiqiyi is developing into one of the most outstanding enterprises in china and even worldwide,” victor ai, managing partner of everbright-idg fund and managing director of cel, said.

yu gong, founder & ceo of iqiyi and victor ai, managing director of china everbright ltd.

thanks to its sufficient capital, the brand impact of everbright and idg capital, and well-targeted investment strategy from the investment team, everbright-idg fund has embarked on strategic investments and m&as globally since its establishment in 2016. within two years, it has invested in more than 10 companies with a total investment of more than rmb 15 billion.

it’s worth mentioning that, committed to being “the most influential m&a fund in china”, everbright-idg fund has received high returns while most of the dozen or so global unicorn companies it invested in have generated floating profits and achieved outstanding investment performance. everbright-idg fund expressed that, in the wake of the accelerated development of china’s new economic industry, it will have its harvest season. at the same time, the fund will continue to stably seek the investment bonuses of the era and industrial development.

about everbright-idg fund

everbright-idg fund is an m&a fund jointly established in 2016 by cel and idg capital. its completed investment has reached rmb 15 billion. the fund is deeply rooted in multiple tracks such as artificial intelligence, fintech, pan-entertainment and consumption upgrade. with powerful shareholder background and capital operation strength, the fund focuses primarily on unicorn startups across the world. within two years after its establishment, it has successfully completed the equity investments of more than ten trans-national, multi-currency unicorn projects and commits itself to becoming the most influential m&a fund in china. for more detailed information, please refer to .