LAIX, which operates the Liulishuo, an AI-powered English language learning platform in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $250 million.
The Shanghai, China-based company was founded in 2013 and booked $52 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol LAIX. LAIX filed confidentially on June 13, 2018.Morgan Stanley and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
