21Vianet Group established China's first carrier-neutral Internet data center in 1999 and has grown into the country's largest carrier-neutral provider, with a market share approaching 20%. Limited interconnectivity between state-owned regional telecoms has created significant Internet traffic bottlenecks in China. 21Vianet addresses this problem with a nationwide network of data centers, POPs, and private optical fiber, allowing it to offer connectivity across major carriers and local ISPs. With secular growth in Internet penetration, online media content and mobile data driving increased demand for data center services, 21Vianet plans to use IPO proceeds to aggressively invest in capacity. 21Vianet plans to raise $127 million by offering 12 million shares at a range of $10-$12, and has applied to list on the NASDAQ under the symbol "VNET". Morgan Stanley and Barclays Capital are the lead underwriters on the deal, which is on the IPO calendar for the week of April 18.
21Vianet is China's largest carrier-neutral Internet data center services provider, operating 47 data centers and 5,700 cabinets across 33 cities. The company primarily generates revenue from hosting, interconnection and related value-added services. At the end of 2010, it counted over 1,300 customers, including leading Internet companies Tencent, Youku, Renren and Alibaba.
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