China streaming app plots bumper IPO

Asia Innovations chief executive tells FinanceAsia he wants to close a multibillion-dollar IPO before the end of next year.

Asia Innovations Group, the Chinese app developer that runs live streaming platform Up Live, is eyeing an initial public offering that could value the company at “several billion dollars”, the company’s co-founder told FinanceAsia.

Asia Innovations has already gone through four private fundraising rounds, achieving a valuation of $250 million at its last round in 2016. But Andy Tian, co-founder and chief executive of the company, has a much more ambitious plan he says he wants to achieve a multibillion dollar valuation before the end of 2018.

The company, one of several start-ups attempting to profit from the live-streaming craze, plans to list in either...

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