News that Meizu is negotiating $1 billion in financing

On February 5th, some media outlets reported that Meizu was in talks for a new round of funding, potentially raising between $800 million and $1 billion to prepare for an initial public offering (IPO). TechWeb reached out to Li Nan, the Vice President of Meizu, who responded, "We don't know about the financing, and the IPO has not been confirmed yet." This isn't the first time that talk of an IPO has surfaced. In January 2016, founder Huang Zhang had already hinted at Meizu's plans to go public. During a Weibo post on January 22, he stated, "Meizu sold over 20 million units in 2015. Our goal for 2016 is to maintain growth, generate profits, and move forward with the IPO. Wishing everyone a happy New Year!" When asked by TechWeb whether the company was still considering specific financing amounts, Li Nan remained vague. As of the time of writing, no further details were provided. Looking back, Meizu raised its first round of funding in July 2014, selling 10% of its shares for more than 2 billion yuan, with a valuation exceeding 20 billion yuan. Then, on February 9, 2015, the company secured a $650 million investment, with Alibaba leading the round by investing $590 million. Following the Alibaba investment, many media outlets described Meizu’s development as entering a "fast lane." At a year-end media event, Li Nan announced that Meizu's smartphone sales exceeded 20 million units in 2015, representing a 350% year-on-year increase. For 2016, the company set a sales target of 25 million units. (By Wang Kaka)

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