Cootek, the Chinese maker of TouchPal keyboard, files for $100M US IPO

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Cootek , the Chinese mobile web business best understood for keyboard app TouchPal, has actually applied for a public offering in the United States. In its F-1 type , sent recently to the Securities and Exchange Commission, Cootek stated it wishes to raise approximately $100 million.

The Shanghai-based business started running in 2008, when TouchPal was introduced, and integrated as CooTek in March 2012. In its SEC filing, Cootek stated it presently has 132 million everyday active users, with typical DAUs increasing 75% year-over-year since June. It likewise stated it accomplished 453% overall advertisement earnings development in the 6 month duration prior to June.

While AI-based TouchPal, which provides move typing and predictive text, is Cootek’ s most popular item, it likewise has 15 other apps in its portfolio, consisting of physical fitness apps HiFit and ManFIT and a virtual assistant called Talia. The business utilizes its exclusive AI and huge information innovation to evaluate language information gathered from users and the Internet. It utilizes those insights to establish way of life, home entertainment and health care apps. Together, those 15 apps reached approximately 22.2 million month-to-month typical users and 7.3 million day-to-day average users in June.

TouchPal itself had 125.4 million everyday average users in June 2018, with active users releasing the app approximately 72 times a day. It presently supports 110 languages.

Most of Cootek’ s income originates from mobile marketing. It states net earnings grew from $11 million in 2016 to $37.3 million in 2017, or 238.5% year-over-year, while its bottom line dropped from $30.7 million in 2016 to $23.7 million in 2017. It accomplished earnings of $3.5 million for the 6 months ending in June, compared with a bottom line of $16.2 million in the very same duration a year earlier.

Cootek strategies to be noted under the ticker sign CTK on the New York Stock Exchange and will utilize the IPO’ s continues to grow its user base, purchase AI and natural language processing tech and enhance marketing efficiency. The offering will be financed by underwritten by Credit Suisse, BofA Merrill Lync and Citi.

Read more: https://techcrunch.com/2018/08/20/cootek-the-chinese-maker-of-touchpal-keyboard-files-for-100m-us-ipo/

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