Chinese esports firm VSPN is targeting an initial public offering (IPO) in the United States as soon as this year in order to boost its expansion in China’s competitive gaming arena. This according to unnamed sources.
VSPN is also known as Xi’an Quantum Sports Management Co., and the company could potentially raise several hundred million dollars with the IPO.
The sources confirm that deliberations are still at an early stage and details including timeline could change. As of yet, VSPN themselves have denied plans for an IPO at this stage.
The company is headquartered in Shanghai and has offices in Saudi Arabia, South Korea, Indonesia and the U.S., creating more than 13,000 competitions for broadcast. In a Series B+ funding round previously, it was already able to raise $60 million from known investors including Prospect Avenue Capital and Guotai Junan International Holdings Ltd., according to an announcement in January. Its other investors include Kuaishou Technology, Sequoia Capital China, Susquehanna International Group, Tencent and Tiantu Capital.