Tencent technology news (Han Yimin) domestic capital market policy uncertainty seems to have had an impact, after a quarter of silence, the domestic Internet Co to restart the United States market.
earlier today, the domestic online education platform enterprise 51Talk free English (hereinafter referred to as free English) submitted to the SEC F-1 listing application documents, documents show, 51Talk IPO will raise funds of about $100 million. Underwriters for MORGAN STANLEY and CREDIT SUISSE. Yet to determine the listed exchange.
according to the free English F1 documents submitted show that throughout 2015, the net revenue free English for 155 million yuan ($23 million 900 thousand), higher than 2014’s 52 million 200 thousand yuan; net loss attributable to common shareholders was 403 million yuan ($62 million 200 thousand), compared with 2014 net loss attributable to ordinary shareholders of 130 million yuan; attributable to ordinary shareholders per share loss of 5.57 yuan ($0.86), compared with 2014 attributable to ordinary shareholders per share loss of 1.71 yuan.
since its inception in 2011, worry free English has been in a continuous loss. Data show that from 2013 to 2015, worry free English losses continued to expand the potential, respectively: 17 million 800 thousand yuan, 101 million 700 thousand yuan and RMB 327 million 100 thousand. As of March 31st, worry free English this year has recorded a loss of 99 million 300 thousand yuan (about $15 million 400 thousand).
in addition to the information disclosed in the F1 file, worry free English is the use of YY streaming media technology, in order to provide students with teaching, teacher training and other services.
June 2014, worry free English and Guangzhou Hua Network Technology Co., Ltd. signed a five year technical service agreement to use YY to provide video, audio and other streaming media technology support. In February this year, with another Shanghai network service company signed a streaming media technology cooperation agreement to enhance the quality of service on the MAC platform.
in risk warning, no worries about the English language, any relationship with the YY fluctuations in the relationship, are likely to have a negative impact on the teaching of English teaching.
in the prospectus, free English also disclosed the VIE structure of the company, the main companies abroad for Chinese online education group (China Online Education Group, referred to as COE), the Hongkong COE has a 100% stake in the company, and through the Hongkong branch control of domestic corporate entities.
also has a branch office in Philippines, mainly responsible for the recruitment, training and management of local teachers, in the early development of worry free English, foreign teachers from Philippines is the main teacher