Chinese esports firm VSPN is considering an initial public offering (IPO) in the US as soon as this year to build its war chest for expansion in China’s competitive gaming arena, people familiar with the matter said.
VSPN, also known as Xi’an Quantum Sports Management Co., could raise several hundred million dollars in the IPO, one of the people said, requesting not to be named because the matter is private.
Deliberations are at an early stage and details including size and timeline could change, the people said. A company representative said they don’t have an IPO plan at this stage.
Headquartered in Shanghai, the company also has offices in Saudi Arabia, South Korea, Indonesia and the US, creating more than 13,000 competitions for broadcast. The company raised $60 million in a Series B+ funding round from backers including Prospect Avenue Capital and Guotai Junan International Holdings Ltd., according to an announcement in January. Its other investors include Kuaishou Technology, Sequoia Capital China, Susquehanna International Group, Tencent and Tiantu Capital.
By Niji Narayan
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.