Wowo Ltd. IPO Info
Company Name: Wowo Ltd.
Stock Symbol: WOWO
Exchange: NASDAQ
Status: Priced
IPO Date: 4/8/2015
IPO Price:
10.00 (
-49.90%)
Underwriters
Axiom
Amount of Offering: N/A
Number of Shares Offered: 4 Mil
Shares Outstanding After Offering: N/A
Valuation: N/A
Company Description
Wowo is a leading local lifestyle service e-commerce platform in China. The company's platform consists of an e-commerce website, "WoWo Mall", a mobile commerce infrastructure, "WoWo Mobile", and an electronic management system, "WoWo EMS". The three components of the company's platform are designed to create an integrated network that enhances the interaction between businesses and consumers that reinforces brand awareness and fosters repeat customers for our merchant clients.
Financial Data
Financial statement from the company: "Our net revenues were $27.8 million and $36.3 million for the years ended December 31, 2012 and 2013, respectively, including storefront fees of $2.8 million and $10.0 million, respectively. At the same time, our net loss decreased from $39.0 million to $32.2 million for the years ended December 31, 2012 and 2013, respectively. For the nine months ended September 30, 2013 and 2014, our net revenue was $27.6 million and $20.6 million, respectively, including storefront fees of $6.7 million and $7.3 million, respectively. At the same time, our net loss was $21.1 million and $32.4 million for the nine months ended September 30, 2013 and 2014, respectively. We have incurred significant expenses to achieve our current economy of scale and build a premier platform, including establishing 150 service centers and promoting our "WoWo" brand across the major cities and population centers in China. However, we believe that our current cash balance, anticipated cash flows from operations, proceeds from this offering and the financial support obtained from our Chairman and CEO, Mr. Maodong Xu, will be sufficient to meet our anticipated capital needs through December 31, 2015. Specifically, Mr. Maodong Xu has personally committed in writing to provide adequate funds to enable us to meet in full our financial obligations as they fall due through December 31, 2015, which commitment is further supported by pledges of certain assets from Mr. Xu. The funds, if and when called, will be provided in the form of a cash equity investment. This commitment is for an amount subject to our requirements without any limitation and regardless of whether this offering has taken place. As of January 7, 2015, Mr. Xu has provided interest free funds to support our working capital needs to the amount of $62.6 million."
SEC Filings
News Headlines
