The Chinese online downloads and entertainment portal YY.com is looking to IPO in the US next year, and thereby raise between 100 to 200 million dollars. According to local media reports, Credit Suisse has been appointed to arrange it.
In the past, YY has attracted investment from Morningside Ventures, Disney’s Steamboat Ventures, and GGV. It has raised at least US$33 million since its founding in 2005.
YY claims 120 million registered users, and as such is a huge digital entertainment portal. Its primary products include YY mobile and desktop IM, a small-scale e-commerce site that uses its own virtual currency, YY Music, online social gaming, and an education portal.