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CooTek Proposes Terms For $57 Million U.S. IPO

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CooTek Proposes Terms For $57 Million U.S. IPO
Sep. 21, 2018 11:03 AM ET | About: CooTek (CTK), Includes: GOOG
Donovan Jones
Donovan Jones
IPOs, tech, alternative investments, CEO VentureDeal.com
MARKETPLACEIPO Edge
(6,360 followers)
Summary
CooTek has filed proposed terms to sell $57 million of ADSs representing Class A shares in a U.S. IPO.

The firm is a mobile app developer expanding its focus from keyboard input software to AI-driven digital assistant technologies.

CTK has grown rapidly and has a successful investor base which is supporting the IPO.

This idea was discussed in more depth with members of my private investing community, IPO Edge. Start your free trial today »

cootek ipo

Quick Take
CooTek (CTK) intends to raise $57 million in an IPO of ADSs representing underlying Class A shares, per an amended registration statement.

The company provides smartphone keyboards and more recently an AI-powered virtual digital assistant, Talia.

CTK has a top tier investor base, support for the IPO, and strong results in recent periods with prospects for continued growth in the near future.

Company & Technology
Shanghai, China-based CooTek was founded in 2008 to develop and maintain smartphone keyboards for iOS, Android and Windows platforms.

Management is headed by Co-Founder and CEO Michael Jialiang Wang, who was previously a Product Manager at Microsoft R&D Group in China.

CooTek has developed TouchPal, a virtual keyboard for smartphone devices. The keyboard supports 85 different languages and operates in more than 200 countries with more than 132 million daily active users [DAU].

Below is a brief overview video of TouchPal Keyboard Pro with AR Emojis:


(Source: TouchPal)

Investors in CooTek include Qiming Venture Partners, Sequoia Capital, SIG China Investments and others.

The company generates revenue primarily through mobile advertising.

Sales and marketing expenses as a percentage of net revenues have dropped as revenues have sharply increased, as the figures below indicate:

Sales & Marketing Expenses vs. Revenue

Period

Percentage

Through 2Q 2018

52.4%

2017

54.0%

2016

85.2%

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