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6d ago

Insta360 Soars to $9.9 Billion Valuation in Shanghai IPO

Proceeds will back R&D aimed at driving new products into major overseas markets.

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Insta360’s affordability and specifications have helped make it a top alternative to GoPro in the action camera market. Photo: Handout

Overview

  • Insta360 raised 1.94 billion yuan ($270 million) at 47.27 yuan per share in its STAR Market debut, with trading surging 285% on launch.
  • The offering valued the company at about 71 billion yuan ($9.9 billion), marking the largest listing on the STAR Market so far this year.
  • Founder Liu Jingkang’s 26.8% stake propelled his net worth to an estimated $2.7 billion following the IPO.
  • The company plans to channel the $270 million into research and development and now employs over 2,000 people worldwide, with more than half in R&D roles.
  • The brand leads the global 360-degree camera market and ranks second to GoPro in action cameras as it navigates potential trade tensions between the US and China.