Hello, a Chinese provider of bike-sharing and other mobility services, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Hello provides a mobile app that gives users access to mobility services including bike-sharing services, a carpooling marketplace, and other emerging local services including e-scooters. The company states that the Hello app is China's third largest local services platform by transaction volume as of December 31, 2020. The company also states that it was the number one bike-sharing service provider in China by rides in 2020.
The Shanghai, China-based company was founded in 2014 and booked $932 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq but has not selected a symbol yet HLLO.RC. Hello filed confidentially on February 25, 2021. It had been on our Private Company Watchlist since March 2021. Credit Suisse, Morgan Stanley and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.
