Jilian Technology, Developer of AI Product Video++, Rumored to be Nominated in Highly Anticipated IPO List
Jilian Technology, the developer of AI product Video++, becomes a possible nominee, after LU Xiaochun (陆晓春), the current Party Secretary of Shanghai Municipal Commission of Economy and Information, visited the company last week.
In early this month, Chinese President XI Jinping announced in the opening ceremony of the first CIIE (China International Import Expo) that a science and technology innovation board will be set up with a pilot registration system in the Shanghai Stock Exchange. This new attempt is regarded by many observers as a new wave of reform in the Chinese financial market, and is highly anticipated by startups.
Since then, Shanghai local authorities have been actively visiting qualified portfolios, and AI related startups will have the priority to be listed first. Jilian Technology, the developer of AI product Video++, becomes a possible nominee, after LU Xiaochun (陆晓春), the current Party Secretary of Shanghai Municipal Commission of Economy and Information, visited the company last week.
Shanghai-based Jilian Technology, claimed its product Video++ leads the AI+Video market in China, altogether secured more than CNY 1 billion in the last four years, its investors include Alibaba Group, UBTech, Megvii, YF Capital, Sirius Capital, Winshare Capital and so on. The valuation has reached more than USD 1 billion, and the company expects to finish revenue of CNY 500 million this year.
According to the official website, Jilian Technology is introducing the world’s first video Operation System based on AI technology, allowing users to easily access video content they’re interested in, also creating opportunities to buy or increase immersive experiences. The company independently developed an AI system of entertainment “VideoAI”, and a video interactive operating system “VideoOS”. These products or services have been integrated into hundreds of hot shows and TV series in China.
Jilian Technology plans to invest CNY 150 million next year to enhance AI R&D strength, and AI relative employees will increase to 400. DONG Huizhi (董慧智), co-founder and COO of Jilian Technology said the company aims to reach a revenue target of CNY 10 billion in 3 years.
-Author: YuanPu; write to YuanPu at yuanpu@EqualOcean.com