The Digital Source For China's Tech Innovation Since 2000

Search
Close

Operator Of 12580 Eyes IPO In 2010

November 13, 2009
Business | Internet | Telecom & Wireless

According to an executive from Beijing Wuxian Xunqi Information Technology Company, the exclusive operator of China Mobile's 12580 comprehensive service platform, the company plans to launch its initial public offering in the next one or two years.

The executive revealed the information during an industry forum held in Shanghai this week. He said the company will maintain a rapid growth in the future and its revenue in 2010 is expected to be over USD100 million. Though Wuxian Xunqi has not decided where to get listed, Shenzhen, Hong Kong and Nasdaq in the U.S. will all be considered.

In January 2007, Wuxian Xunqi became the exclusive partner of China Mobile's 12580 comprehensive service platform. It is responsible for the construction and operating support for the service portal, making it into a comprehensive information service platform that integrates voice, Internet, WAP, short message, multimedia messaging service, and location service. During the past three years, it has gained 60 million users who mainly dial the 12580 platform for hotel and ticket bookings as well as restaurant information.

Since the fourth quarter of 2007, the quarterly compound growth rate of the revenue of the company has reached 51% and it started to make profit at the end of 2008. In the third quarter of 2009, Wuxian Xunqi made revenue of about USD20 million and its income sources include profit-sharing with China Mobile, SMS subscribing services, and advertising.

Tags: 12580 | advertising | air ticket | airline | Beijing | China | China Mobile | e-commerce | e-ticket | Guangdong | Hong Kong | hotel | hotel reservation | initial public offering | Internet | Internet travel | ipo | MMS | mobile | mobile phone | nasdaq | online travel | restaurant | revenue | Shanghai | Shenzhen | SMS | WAP | Wireless | Wuxian Xunqi

Other Related News:

Mystery of alleged Chinese hack on eve of Ukraine invasion

April 8, 2022

Echoes of Mana to be Featured at Taipei Game Show 2022

January 22, 2022

AMTD Celebrates Official Launch Of The Hong Kong Youth FinTech Association

December 10, 2021

Hurray's Mobile Revenues Fall In China As It Drops Further Investor Guidance

May 22, 2009

Meihua Stock Takes Off in Rare U.S. IPO of Chinese Company MarketWatch

February 17, 2022

China Mobile, Facebook, MTN, Orange, stc, Telecom Egypt & Vodafone Launch New Cable Branches Under the 2Africa Consortium

September 5, 2021

China Mobile Hong Kong 700MHz 5G from July-ePrice.HK

June 18, 2022

The FCC revokes China Unicom's authorization to operate in the US, granted ~20 years ago, citing national security; Unicom can still offer data center services (Reuters)

January 28, 2022

Rumor: China Mobile Will Increase WAP Payouts

September 26, 2007
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....