Taomee’s 61.com to be listed in NYSE on June 9

News on May 28 said that Taomee’s IPO application was finally approved, and will be listed in the U.S. New York Stock Exchange on June 9 under the ticker TAOM. It planed to finance 100 million US dollars to the most.

61.com submitted its prospectus to American Securities and Exchange Committee on May 18, declaring an IPO price of between 9 dollars and 11 dollars each. It planned to issue 7,187,500 ADS. Accounting with the middle value of IPO price, which is 10 dollars, the finance will reach 71.8 million dollars.

Credit Suisse and Deutsche Bank will act as lead underwriters. While Oppenheimer, Pacific Crest Securities, Stifel Nicolaus Weisel and China International Capital Corporation will also plays as its underwriters.

As prospectus shows, 61.com’s revenues in 2008, 2009 and 2010 are 125,000 dollars, 7,066,000 dollars and 35,973,000 dollars respectively, and its net profits are -888,000 dollars, 1,318,000 dollars and 21,575,000 dollars each.

61.com’s revenue includes online and offline two parts. The online revenue in 2010 was 33,680,000 dollars and the offline revenue was 2,290,000 dollars.

61.com was jointly founded by Wang Haibing, Cheng Yunpeng and Wei Zhen in October 2007. It has received Angel Investment from Zeng Liqing the co-founder of Tencent before receiving 5 million dollars VC from Qiming Venture in 2009. Taomee runs several entertainment products including Mole Manor, Seer and some online community products such as GF, Flower Fairy, Mole Hero and Haqi Town. All these products aim at kids with ages ranging from 5 to 15.


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