Digital Transformation of Chinese Businesses is Moving Deeper
Baijiayun (Chinese: 百家云), a Chinese audio and video technology provider, announced its merger with Fuwei Films Holdings Co, Ltd. (Chinese: 富维薄膜) on 25 December and listed on Nasdaq. This is the first Chinese audio and video SaaS company listed in the US. The new stock symbol of the company is "RTC." The market capitalization of the combined company is expected to reach USD 840 million.
Founded in 2017, Baijiayun is a ToB video cloud technology service provider for companies to solve various pain points and demands in video technology applications. The company is committed to helping customers quickly deploy their exclusive live-streaming systems and helping enterprises achieve digital learning and digital marketing transformation based on online video technology.
Baijiayun's performance was primarily driven by significant growth in the number of customers and the expansion and improvement of its product matrix.
As of 31 December 2021, Baijiayun has served 2783 paying customers. The well-known customers include BMW (Chinese: 宝马), Hisense (Chinese: 海信), Apple (Chinese: 苹果), Canon (Chinese: 佳能).
Ma Yi, the president of Baijiayun, said, "now cloud office, cloud shopping, cloud live have become the new normal of life. Education, finance, health care and other areas of the 'cloud ecology' has not been fully explored. Baijiayun will take the listing as a new start and continue working in video technology services."