Recent IPOs Prove Chinese Companies Lie About VC Funding Rounds

As more Chinese companies go public it’s becoming increasingly clear that many of them have lied about the level of funding they received as private companies, and thus their pre-IPO valuations.

The latest example is Rong360 Inc., once listed on China Money Network’s China Unicorn List with a US$1 billion valuation. The company is planning a U.S. listing for its wholly-owned subsidiary Jianpu Technology Inc., raising up to US$200 million, according to its IPO prospectus filed with the U.S. Securities and Exchange Commission.

China Money Network

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