Xiaomi’s Smartwatch Partner, Huami, Files for a $150 Million US IPO

Huami, in partnership with Xiaomi, is known for manufacturing high quality and affordable smartwatches such as the Amazfit Sports Smartwatch 2 and Watch 2S. A prominent part of Xiaomi'south smart hardware ecosystem, Huami has grown upwards as 1 of the world's top smart article of clothing maker, thanks to its low-toll strategy and Xiaomi's renowned brand name. At present, as per recent reports, the company is all set to get public.

As reported by Technode, Huami Corporation has filed with the United States SEC for a $150 million IPO (Initial Public Offer). The visitor has applied for the list of its ADSs on Nasdaq Global Market under the ticker symbol "HMI".

The visitor was founded back in 2013. It received initial funding from Xiaomi and Shunwei, the venture capital fund that co-founded past Xiaomi CEO. Afterwards on, in 2014, it secured another $35 million in Series B funding which was led past Banyan Uppercase.

Xiaomi, the brand under which Huami operates, currently holds 19.three% of Huami'south total outstanding shares. The company has a strategic cooperation agreement with Xiaomi, which grants the virtually-preferred-partner status globally to develop future Xiaomi Article of clothing Products. As per reports, thisstrategic cooperation agreement between Xiaomi and Huami will expire in Oct 2020.

Nether Xiaomi'southward wing, Huami has grown exponentially and reached new heights. Co-ordinate to data studies, the company has shipped 11.6 1000000 devices in the first 9 months of 2017. This allowed them to take the world's height spot in terms of units shipped. Furthermore, according to the company'due south prospectus, they had 49.6 meg registered users every bit of September xxx, 2017.

Huami is looking at Data Mining and Artificial Intelligence as the new directions to proceed in to maintain the company's sustainable development.

The main reason for companies' going public is generally the requirement of extra funding in order to venture into new markets. While the IPO filing of Huami was handled in a rather low profile, the company'southward CEO, Huang Wang, revealed that the visitor is looking to delve into data mining and artificial intelligence every bit the new directions to maintain its sustainable development.

While Huami has already filed for its IPO, the news of its parent company going public is one of the most predictable ones in the current market place. Sources close to Xiaomi'due south senior executives are challenge that Xiaomi will announce its IPO in the second part of 2018 at roughly $200 billion. That being said, there is no official word on this as even so.

Source: https://beebom.com/xiaomi-smartwatch-partner-huami-us-ipo/

Posted by: hatchhinig1976.blogspot.com

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