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Tuya Inc Announces Pricing of Initial Public Offering
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Tuya Inc Announces Pricing of Initial Public Offering
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Tencent-backed Chinese cloud IoT provider Tuya files for US IPO
March 3, 2021
Tuya, a Chinese IoT cloud platform for smart devices, has filed for an initial public offering (IPO) on the New York Stock Exchange. It said in a filing that it targets to raise $100 million, which is a placeholder amount likely to change.
In the regulatory filing, Tuya did not disclose its pricing terms and it has not selected a ticker symbol. Morgan Stanley, BofA Securities, and Chinese global investment bank CICC are the joint bookrunners for the deal.
After the IPO, Tuya will bankroll the developments of R&D, and brand marketing. It may also invest some part of the proceeds for technology infrastructure investments.
January 15, 2021
(Sponsored News) – On December 29, 2020, Tuya Smart and Gartner jointly released the “2021 Global AIoT Developer Ecosystem White Paper” with the witness and presence of Eva Na, CMO of Tuya Smart and Guo Lei, China Vice President of Gartner.
Combined with industry experts’ insights and in-depth interviews, this white paper represents 35 international enterprises across 15 industries, explores the intelligent transformation and upgrading experience of leading brands in different industries, from macro to micro, from theory to practice, and analyzes the AIoT industry in four areas: current situation, practices, challenges and prospect. It highlights the benefits of a clear development path for AIoT developers in the future.