Taomee Holdings Limited, a Shanghai-based Chinaโs leading kids community operator filed with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering of its ADSs. The company plans to list on the NYSE underneath a pitch โTAOMโ.
Credit Suisse and Deutsche Bank Securities are the lead underwriters on the deal.
As one of leading childrenโs entertainment and media companies in China(see our post from last week), Taomeeโs online community owns more than 200million registered users. In addition to popular kids SNS games such as Moleโs World, and Seer, the companyโs main business also includes book publishing, authority of cartoon image, film and animation, etc. Taomee plans to use proceeds from the IPO to expand its online business as well as enlarge its offline products.
According to the survey result published by iResearch in 2010, among 6 most welcomed online entertainment community by kids (5 to 15 years old), Taomee occupies 4 of them.
Chinese offerings have been grabbing headlines in the past couple of months as a number of internet ventures rushed to list in New York. We will wait and see if Taomee can be the first Chinese children-themed stocks to go public in US.
