Company: Sogou Inc
Symbol: SOGO
Description: They are an innovator in search and a leader in China’s Internet industry. Their Sogou Search is the second largest search engine by mobile queries in China and they are the fourth largest Internet company in China.
Shares: 45 million ADSs
Price Range: $11.00-$13.00
Trade Date: 11/9
Underwriter(s): J.P. Morgan, Credit Suisse, Goldman Sachs, CICC
Co-Manager(s): China Renaissance
Filed 10-27-17
Business: Sogou Search is the second largest search engine in China by mobile queries and we are the fourth largest Internet company in China based on MAU in September 2017, according to iResearch. Our industry-leading Sogou Input Method, the robust ecosystem they have built and shared with Tencent and other strategic partners, and significant breakthroughs in AI uniquely position them to capture opportunities in China’s search and Internet industry.
Sogou Search had a 17.8% market share in China based on mobile queries in September 2017, as compared to 15.2% in March 2017 and 16.9% in June 2017, according to iResearch. Meanwhile, their mobile search MAU increased from 473 million in March 2017, to 483 million in June 2017, and further to 511 million in September 2017. They have grown significantly, with total search page views having grown by 28.0% and mobile search page views having grown by 71.9% on an annualized basis from September 2014 to September 2017. Powered by AI, Sogou Search offers innovative products and services. For example, their cross-language search service eliminates the Chinese-English language barrier, enabling users to discover English content on the Internet by querying in Chinese and reading content that we have translated into Chinese.
Technology IPOs in 2017
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