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Mogu's long journey: From rejecting Alibaba's advances to US IPO
5 monthes ago - By TechCrunch
Mogu, a Tencent-backed service that offers fashion content and products to young women, has joined a string of Chinese tech companies pressing ahead to sell their shares through initial public offerings in the US before the year-end.
Mogu priced its sale at $14 per share on Wednesday, toward the lower end of a marketed range. That values the unprofitable company at $1.3 billion, a drop from the estimated valuation of $3 billion after Mogujie acquired its chief competitor Meili to form Mogu in 2016.
The firm is poised to raise $66.5 million from the IPO, which will help it fund content and...
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