SoftBank-backed Dingdong raises $95.7 million in downsized U.S. IPO


A delivery worker of Chinese online grocery Dingdong Maicai works at a shop on a street in Shanghai, China June 10, 2021. REUTERS/Aly Song/Files

(Reuters) - Chinese grocery app Dingdong, backed by SoftBank Vision Fund 2, raised about $95.69 million in its U.S. initial public offering on Tuesday after downsizing it on Monday.

The company was earlier planning to raise up to $357 million in its IPO.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Buy now, pay later: Latin America pressured by Chinese online shops
Swedish games developer Embracer misses Q2 operating profit forecast
Major Apple supplier Foxconn's Q3 profit up 14% on AI boom
France's Thales sees revenue and profit growth after cyber expansion
ASML says its revenue to grow to between $46 billion and $63 billion by 2030
Siemens flags geopolitical risks ahead after profit falls
Amazon launches an online discount storefront to better compete with Shein and Temu
Livestreamed prayers for stressed South Korean exam parents
Poland's Allegro sees earnings growing 4-7% at home in Q4
Australia to make big tech liable for citizens’ online safety

Others Also Read