"Klook, a Hong Kong- and Singapore-based travel booking company, is filing for an initial public offering in New York, showing that despite the events of the past year, the U.S. remains a top listing destination for Asian companies. The company, founded in 2014 by Ethan Lin and Eric Gnock Fah, claims to be the largest experience booking platform in Asia by gross transaction volume, with 65 million experiences booked in the twelve months ending Sept. 30. In its IPO prospectus, Klook revealed that it generated $417.1 million in revenue in 2024, a 24% increase. Yet the company isn't profitable, losing $99.3 million last year."
"Klook is working with Goldman Sachs, JPMorgan and Morgan Stanley to list its shares on the New York Stock Exchange under the ticker "KLK." The platform has not shared details on the number of shares to be offered, nor at what price. The company competes with other Asian travel platforms like China's Trip.com and Indonesia's Traveloka to offer tours, attraction tickets, and transit options in 4,000 destinations around the world. Other global competitors include Europe's GetYourGuide and Booking.com."
"Klook is pursuing an IPO right as tourism is surging around the world, as travelers are eager to go on holiday after years of COVID-era lockdowns. According to a May report by the World Travel and Tourism Council, the travel sector is set to generate $11.7 trillion in 2025, making up 10.3% of global GDP. Klook is listing in New York amid tense relations between the U.S. and China."
Klook is filing for an IPO in New York and operates from Hong Kong and Singapore. The company, founded in 2014 by Ethan Lin and Eric Gnock Fah, reports 65 million experiences booked in the twelve months ending Sept. 30 and claims to be the largest experience booking platform in Asia by gross transaction volume. Klook generated $417.1 million in revenue in 2024, a 24% increase, and recorded a $99.3 million loss. The company is working with Goldman Sachs, JPMorgan and Morgan Stanley to list under the ticker KLK. Klook competes with Trip.com, Traveloka, GetYourGuide and Booking.com across 4,000 destinations and is pursuing the IPO amid surging tourism and U.S.–China audit tensions.
Read at Fortune
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