Big Data Firm DATATOM to Seek IPO on ‘China’s Nasdaq’

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.