Big Data Firm DATATOM to Seek IPO on ‘China’s Nasdaq’
The firm provides big data and cloud services for municipal management.
According to this source (in Chinese) from the China Securities Regulatory Commission, DATATOM (德拓科技) has registered pre-listing information for an initial public offering on the Shanghai Star Market. The company was founded in 2011 and it provides data services and cloud computing solutions.
The Shanghai-based big data company supports local governments to build online government to deal with citizens’ inquiries virtually. Under the big ‘smart city’ concept, ‘smart government’ is a sub-project launched to push the digitalization process in municipal management. DATATOM intends to acquire the largest share in the municipal management data services market.
The Co-founder and CEO Huang Haiqing (黄海清) disclosed that the company has been open to Series C financing with a valuation of CNY 2 billion. According to Huang, DATATOM will employ the first three quarters' financials to seek an IPO on the Star bourse.