Recent IPOs Prove Chinese Companies Lie About VC Funding Rounds

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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.

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