sensetime ipo

The company counts Qualcomm Ventures, part of U.S. semiconductor group Qualcomm, as one of its strategic investors. The computer measures visitors' body temperatures, and also checks their identities and whether they are wearing masks. By doing so, you and %USER_NAME% will not be able to see Opening Bell: COVID Pressures EU Markets, U.S. Futures Rise On... 3 Stocks To Watch In The Coming Week: Netflix, Lockheed Martin, Intel, Commodities Week Ahead: Gold Lifted By Stimulus Talks, Oil Cautious. SenseTime, which provides technology-based applications including facial recognition，video analysing and autonomous driving, has been in talks with Chinese securities regulators for the Shanghai listing in recent weeks, one of the people said. Exclusive: SenseTime Eyes STAR Market IPO After $1.5 Billion Fundraising - Sources By Reuters , Wire Service Content July 31, 2020 By Reuters , Wire Service Content July 31, 2020, at 6:32 a.m. Are you sure you want to delete this chart? ©, How China's chip industry defied the coronavirus lockdown, Why China's AI players are struggling to evolve beyond surveillance, Pay with your face: 100m Chinese switch from smartphones, SoftBank reviews $3bn tender offer for WeWork shares. Besides, current market conditions have effectively shut the IPO market for a while. Cookie Policy Earlier this year, Sensetime reportedly delayed its plans to go public, looking instead for up to $1 billion in private funding. All Rights Reserved, This article has already been saved in your, © Reuters. The company counts Qualcomm (NASDAQ:QCOM) Ventures, part of U.S. semiconductor group Qualcomm, as one of its strategic investors. Since you’ve just unblocked this person, you must wait 48 hours before renewing the block. Please wait a minute before you try to comment again. This content was commissioned by Nikkei's Global Business Bureau. Thanks for your comment. While Beijing-based rival Megvii Technology, which was also among those sanctioned by the U.S., has recently gained approval for an IPO from the Hong Kong Stock Exchange, SenseTime took the decision to stay off public markets for now given the challenges, these people said. %USER_NAME% was successfully added to your Block List. SenseTime, which provides technology-based applications including facial recognition，video analysing and autonomous driving, has been in talks with Chinese securities regulators for the Shanghai listing in recent weeks, one of the people said. Other existing investors include SoftBank Vision Fund, HOPU Investment Management Company, Silver Lake Partners and Alibaba (N:BABA). {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}}. Replace the attached chart with a new chart ? In a presentation at the Massachusetts Institute of Technology in 2018, SenseTime's co-founder, Tang Xiaoou, announced that his company beat Facebook to achieve a nearly 99% success rate for its facial recognition technology, making it one of the most advanced artificial intelligence solution providers in the world. to learn how you can update your cookie settings. The U.S. alleges the companies have played a role in human rights abuses against Muslim minority groups in China. SenseTime's founder Tang Xiaoou had told Reuters in 2017 that the start-up was considering a listing in U.S, Hong Kong, or China https://www.reuters.com/article/us-sensetime-ipo-exclusive/exclusive-chinas-sensetime-plans-ipo-u-s-rd-center-as-early-as-2018-idUSKBN1DN0FY. BEIJING/HONG KONG (Reuters) - Chinese start-up SenseTime is considering an initial public offering (IPO) on China's tech-focused STAR market after … Wall Street sees profit recovery for automakers, but will it last? One of the people said that SenseTime’s STAR listing process would take a while, and that there was no obvious valuation benchmark for investors as its main homegrown rival Megvii has not listed yet. There is still an appetite among private equity and venture capital funds to deploy money in "sure bets." Six-year-old SenseTime has raised a total of $2.6 billion in investment, according to the estimates of industry portal Crunchbase. The private markets have fared a bit better, according to bankers. The plan for listing on China's year-old STAR market for start-ups is still preliminary with size and timetable undecided, said the sources, who did not want to be named as the information is confidential. The company was among eight Chinese tech companies placed on the U.S. entity list in October amid trade tensions between Beijing and Washington. The U.S. ban has made an overseas listing difficult, if not impossible, as global investors and investment banks are likely to shy away from companies being targeted by the United States, two of the people said. ", SenseTime did not confirm or deny the fundraising plans. By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. The company was among eight Chinese tech companies placed on the U.S. entity list in October amid trade tensions between Beijing and Washington. BEIJING/HONG KONG (Reuters) – Chinese start-up SenseTime is considering an initial public offering (IPO) on China’s tech-focused STAR market after its latest fundraising that will value … BEIJING/HONG KONG (Reuters) - Chinese start-up SenseTime is considering an initial public offering (IPO) on China's tech-focused STAR market after its latest fundraising that will value the company at $10 billion, three people with knowledge of the matter said. Please review our HONG KONG -- Chinese artificial intelligence startup SenseTime Group has deferred its plan for an up to $750 million initial public offering in Hong Kong this year and instead aims to tap private markets, people briefed on the plan said, joining the list of companies scrapping share-sale plans as the novel coronavirus outbreak batters markets. Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century. It may therefore take some time before it appears on our website. Nikkei Inc. No reproduction without permission. SenseTime last year undertook several investor meetings to explain the company's evolving business model, which now encompasses facial recognition, robot delivery, smart health and education. Weak investor sentiment over coronavirus and US blacklist hurts AI startup's plans © 2007-2020 Fusion Media Limited. Hong Kong-headquartered SenseTime declined to comment. Economic Events and content by followed authors, Exclusive: SenseTime eyes STAR market IPO after $1.5 billion fundraising - sources. (Reporting by Yingzhi Yang and Cheng Leng in Beijing and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Jane Merriman), The logo of SenseTime is seen during a government-organised media tour at SenseTime office, in Shanghai, U.S. Justice Department hits Google with biggest antitrust lawsuit in two decades, Four-alarm fire destroys long-time Bronx motorcycle and e-bike shop, Wall Street backs Intel’s $9 billion sale of NAND unit to Hynix. China tech SenseTime to seek up to $1bn private funding, deferring Hong Kong IPO. "While Megvii has been cleared, we think we would have a better public market outcome if we wait. Other existing investors include SoftBank Vision Fund, HOPU Investment Management Company, Silver Lake Partners and Alibaba . The company believed it would see more success in its IPO … Hong Kong-based SenseTime, which counts Alibaba Group Holding, Qualcomm and SoftBank Group among its backers, began working with Chinese investment bank China International Capital Corp. on the IPO last year, but its plans were scuppered when the U.S. blacklisted eight Chinese companies including SenseTime, accusing them of human-rights violations and imposing export restrictions. They said that hedge funds also are looking at safe companies for pre-IPO funding. Your ability to comment is currently suspended due to negative user reports. Reuters reported in December that the five-year-old start-up had told investors it expected its 2019 revenue to increase by more than 200% year-on-year to around $750 million despite China-U.S. tensions.

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