NEW YORK, March 29, 2018 (GLOBE NEWSWIRE) -- iQIYI, Inc. (Nasdaq:IQ), the market-leading Chinese online entertainment service and video platform, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
With more than 126 million average mobile daily users (DAU) at the end of 2017, iQIYI is one of the largest internet companies in China and the largest internet video streaming service in the country in terms of user time spent. iQIYI is known for combining creative talent with innovative technology to create blockbuster entertainment and offers original programming in addition to a wide selection of professionally produced and partner-generated content. In addition, iQIYI has a robust social media platform, iQIYI Paopao, which had approximately 45.8 million average mobile DAU for the three months ended December 31, 2017.
“Today’s listing on Nasdaq marks an important milestone on our journey to redefine online entertainment in China,” said Yu Gong, Founder and Chief Executive Officer of iQIYI. “We look forward to building a technology-based entertainment company that brings fun and joy to Chinese people and their families around the world.”
“iQIYI is at the forefront of the entertainment industry in China because of its focus on unique content and many technology-enabled features,” said Adena Friedman, President and Chief Executive Officer, Nasdaq. “We welcome iQIYI to our Nasdaq family as they join other global technology leaders, and we look forward to supporting iQIYI as they pave the way for the next-generation of market innovators.”
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