Rivals iQiyi and Bilibili are used to fighting for the eyeballs of China's online video viewers. On Monday, the pair went head to head in a new context as they both launched US initial public offerings, seeking to raise $2.9 billion between them.
However the distinct business models of the two companies suggest they will appeal to different group of investors.
iQiyi, the online video site backed by Chinese tech giant Baidu, will feature in the bigger of the two deals as it looks to raise as much as $2.4 billion. That would be the largest flotation of a Chinese company in the US since Alibaba’s...
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