You dont have javascript enabled! Please enable it!
  • Tech News
    Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

    Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

    As its future hangs in the balance, TikTok tries to keep advertisers on its side

    As its future hangs in the stability, TikTookay tries to keep advertisers on its side

    Netflix’s CPM still under media buyers’ skin months into its disjointed push into advertising

    Netflix’s CPM still under media patrons’ skin months into its disjointed push into advertising

    Marketing Briefing: Coca-Cola and other major marketers enter ‘test and learn’ phase with generative AI

  • Reviews
    TechEngage®

    An ambitious phone with Wild Camera & tricks

    TechEngage®

    Google Pixel 3 Review: Consistently Unbeatable Camera Lord

    TechEngage®

    Pocophone F1 review: “Flagship Killer” killer?

    Slim, Slick & Economically Premium

    Slim, Slick & Economically Premium

    TechEngage®

    NVIDIA’s Quadro RTX 4000 GPU to be a $900 graphics beast

    TechEngage®

    Xiaomi Mi 8 Pro review; Should we still go for Mi 8?

  • Noteworthy
    TechEngage®

    Russia to briefly “turn off” country’s Internet entry. But why?

    TechEngage®

    Sprint announces first solid plans to unveil 5G infrastructure at MWC19

    Drunk shopping could be a $45 billion industry

    Drunk shopping could be a $45 billion industry

    TechEngage®

    The advantages and benefits of electronic signature

    TechEngage®

    Father of “cut, copy, and paste” Larry Tesler, dies at 74

    TechEngage®

    How the use of modern technology is messing up our sleep

  • Science
    • All
    • Energy
    • Environment
    • Health
    • Space
    TechEngage®

    Asthma and technological innovations for treating it

    Virtual Healthcare; A revolution in medical technology

    Virtual Healthcare; A revolution in medical technology

    Revolutionizing Healthcare Management; Virtual Nurse

    Revolutionizing Healthcare Administration; Virtual Nurse

    TechEngage®

    Biotechnology 2018 trends that are a complete knockout

  • Opinions
    TechEngage®

    Fundamentals of Wealth Creation for Better Outcomes

    TechEngage®

    Change; The only Constant in this World

    TechEngage®

    Proactive & Reactive being two extremes of different worlds

    TechEngage®

    Walmart suffered cases of gender discrimination

    TechEngage®

    How Digital Education features; its Pros and Cons

    TechEngage®

    Impact of Violent Video Games on Youth

  • Applications
    TechEngage®

    Google Play Pass will give access to paid apps

    TechEngage®

    Quizlet reaches 50 Million Users milestone

    TechEngage®

    Eradicate Gender Inequality through Crowd mapping!

    TechEngage®

    How mobile phone apps can help pregnant women

    TechEngage®

    Apple News app will be broadcasting live election results

    TechEngage®

    TikTok becomes the most downloaded app on the App Store

  • Blockchain
    TechEngage®

    Common mistakes new crypto investors make

    TechEngage®

    Microsoft launches Azure Blockchain Dev Kit

    TechEngage®

    The mystery behind Twitter Bitcoin scams has been solved

    TechEngage®

    Make-A-Wish website hit with the cryptojacking plight

    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

  • Applications
    TechEngage®

    Google Play Pass will give access to paid apps

    TechEngage®

    Quizlet reaches 50 Million Users milestone

    TechEngage®

    Eradicate Gender Inequality through Crowd mapping!

    TechEngage®

    How mobile phone apps can help pregnant women

  • Culture
    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

  • Deals
    TechEngage®

    Save $400 on Apple’s last-gen 14″ MacE book Pro and new Mac Mini 2023

    TechEngage®

    New York Times joins with Scribd to offer an economical subscription bundle

    TechEngage®

    Motorola puts up some scary good deals for Halloween

    TechEngage®

    Lavender version of Samsung Galaxy Note 9 will be $140 off

  • Events
    TechEngage®

    Nokia to launch new smartphones on April 8th

    TechEngage®

    What to expect from Samsung Galaxy Unpacked event

    TechEngage®

    What to expect from the OnePlus 9 launch event

    TechEngage®

    What to expect from Apple’s WWDC21 event

  • How-to
    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

  • Roundups
    TechEngage®

    10 Best iPhone Wallpaper Apps 2023

    TechEngage®

    Best iPhone 12, 12 Pro Wallet Cases in 2023

    TechEngage®

    10 Best Wallpaper Apps for Mac in 2023

    TechEngage®

    Best Android Launchers of 2023

  • Startups
    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    Techabout Banner

    TechAbout: A venture that adds life to your dreams

    Avatar Of Nur

    These 5 Startups Will Change the Future of Health-tech

Tuesday, March 28, 2023
Tech News, Magazine & Review WordPress Theme 2017
No Result
View All Result
  • Tech News
    Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

    Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

    As its future hangs in the balance, TikTok tries to keep advertisers on its side

    As its future hangs in the stability, TikTookay tries to keep advertisers on its side

    Netflix’s CPM still under media buyers’ skin months into its disjointed push into advertising

    Netflix’s CPM still under media patrons’ skin months into its disjointed push into advertising

    Marketing Briefing: Coca-Cola and other major marketers enter ‘test and learn’ phase with generative AI

  • Reviews
    TechEngage®

    An ambitious phone with Wild Camera & tricks

    TechEngage®

    Google Pixel 3 Review: Consistently Unbeatable Camera Lord

    TechEngage®

    Pocophone F1 review: “Flagship Killer” killer?

    Slim, Slick & Economically Premium

    Slim, Slick & Economically Premium

    TechEngage®

    NVIDIA’s Quadro RTX 4000 GPU to be a $900 graphics beast

    TechEngage®

    Xiaomi Mi 8 Pro review; Should we still go for Mi 8?

  • Noteworthy
    TechEngage®

    Russia to briefly “turn off” country’s Internet entry. But why?

    TechEngage®

    Sprint announces first solid plans to unveil 5G infrastructure at MWC19

    Drunk shopping could be a $45 billion industry

    Drunk shopping could be a $45 billion industry

    TechEngage®

    The advantages and benefits of electronic signature

    TechEngage®

    Father of “cut, copy, and paste” Larry Tesler, dies at 74

    TechEngage®

    How the use of modern technology is messing up our sleep

  • Science
    • All
    • Energy
    • Environment
    • Health
    • Space
    TechEngage®

    Asthma and technological innovations for treating it

    Virtual Healthcare; A revolution in medical technology

    Virtual Healthcare; A revolution in medical technology

    Revolutionizing Healthcare Management; Virtual Nurse

    Revolutionizing Healthcare Administration; Virtual Nurse

    TechEngage®

    Biotechnology 2018 trends that are a complete knockout

  • Opinions
    TechEngage®

    Fundamentals of Wealth Creation for Better Outcomes

    TechEngage®

    Change; The only Constant in this World

    TechEngage®

    Proactive & Reactive being two extremes of different worlds

    TechEngage®

    Walmart suffered cases of gender discrimination

    TechEngage®

    How Digital Education features; its Pros and Cons

    TechEngage®

    Impact of Violent Video Games on Youth

  • Applications
    TechEngage®

    Google Play Pass will give access to paid apps

    TechEngage®

    Quizlet reaches 50 Million Users milestone

    TechEngage®

    Eradicate Gender Inequality through Crowd mapping!

    TechEngage®

    How mobile phone apps can help pregnant women

    TechEngage®

    Apple News app will be broadcasting live election results

    TechEngage®

    TikTok becomes the most downloaded app on the App Store

  • Blockchain
    TechEngage®

    Common mistakes new crypto investors make

    TechEngage®

    Microsoft launches Azure Blockchain Dev Kit

    TechEngage®

    The mystery behind Twitter Bitcoin scams has been solved

    TechEngage®

    Make-A-Wish website hit with the cryptojacking plight

    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

  • Applications
    TechEngage®

    Google Play Pass will give access to paid apps

    TechEngage®

    Quizlet reaches 50 Million Users milestone

    TechEngage®

    Eradicate Gender Inequality through Crowd mapping!

    TechEngage®

    How mobile phone apps can help pregnant women

  • Culture
    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

  • Deals
    TechEngage®

    Save $400 on Apple’s last-gen 14″ MacE book Pro and new Mac Mini 2023

    TechEngage®

    New York Times joins with Scribd to offer an economical subscription bundle

    TechEngage®

    Motorola puts up some scary good deals for Halloween

    TechEngage®

    Lavender version of Samsung Galaxy Note 9 will be $140 off

  • Events
    TechEngage®

    Nokia to launch new smartphones on April 8th

    TechEngage®

    What to expect from Samsung Galaxy Unpacked event

    TechEngage®

    What to expect from the OnePlus 9 launch event

    TechEngage®

    What to expect from Apple’s WWDC21 event

  • How-to
    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

  • Roundups
    TechEngage®

    10 Best iPhone Wallpaper Apps 2023

    TechEngage®

    Best iPhone 12, 12 Pro Wallet Cases in 2023

    TechEngage®

    10 Best Wallpaper Apps for Mac in 2023

    TechEngage®

    Best Android Launchers of 2023

  • Startups
    Two-million-year-old DNA, oldest ever found, opens window to Greenland's past

    Two-million-year-old DNA, oldest ever found, opens window to Greenland’s past

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    This Chinese electric car giant will produce in Europe and that could change a lot of things

    Techabout Banner

    TechAbout: A venture that adds life to your dreams

    Avatar Of Nur

    These 5 Startups Will Change the Future of Health-tech

No Result
View All Result
Tech News
No Result
View All Result

Chinese Insurance Tech Startup Cheche Group Mulls US Listing through SPAC

February 11, 2023
inTech News
HomeTech News

Our mission is to provide unbiased product reviews and timely reporting of technological advancements. Covering all latest reviews and advances in the technology industry, our editorial team strives to make every click count. We aim to provide fair and unbiased information about the latest technological advances.
Share on FacebookShare on Twitter

Following the itemizing of Waterdrop on the NYSE in 2021, practically two years later, one other Chinese insurance coverage know-how firm, Cheche Group, introduced that it will full its itemizing within the United States inside this 12 months. The firm signed a enterprise merger settlement with Prime Impact Acquisition I, a particular function acquisition firm, on January 29, and can full the backdoor itemizing within the third quarter of this 12 months. Once the itemizing procedures are full, the corporate’s ticker image will likely be modified to “CCG”.

Cheche Group was established in 2014 and is headquartered in Beijing the place it has an R&D middle together with a second facility in Guangzhou. Its major buyers embody Tencent, Shunwei Capital, China Broadband Capital (CBC) and different establishments. iiMedia’s report confirmed that Cheche Group is already the biggest impartial car insurance coverage service know-how platform within the Chinese market. The firm’s unaudited annual earnings in 2022 was about 2.5 billion yuan ($370 million). During the identical interval, the platform’s complete transaction premiums reached 15.2 billion yuan, a year-on-year improve of 36%.

Regarding the itemizing plan, Zhang Lei, founding father of Cheche Group, stated. “In the future, we will see that China’s insurance market and its digitalization will continue to grow rapidly. Among them, auto insurance is still the largest sector in China’s property insurance market, and China’s auto insurance market is the second largest in the world. It is estimated that the total premium of auto insurance will reach about 1.1 trillion yuan by 2026.”

See also  Mythbuster: an ad recession’s biggest misconceptions

According to the announcement, the pre-investment fairness worth of Cheche Group is round $760 million. After the proposed merger transaction, the brand new firm will likely be valued at about $841 million. The transaction is anticipated to usher in about $68 million in complete income to the corporate whereas nonetheless leaving open the likelihood for extra financing.

Mark Long, co-founder, co-CEO and CFO of Prime Impact, stated, “The transaction created an implied pro forma enterprise value of about $841 million. Considering the company’s technical capabilities, huge potential market, SaaS products and business model that is expected to achieve significant growth, this is still an attractive price.”

SEE ALSO: Waterdrop Reports Net Operating Revenue of $145.5 Million, Starts Share Repurchase Program Valued as much as $50 Million

It is kind of widespread for corporations desirous to checklist on a US inventory trade to interchange a conventional IPO with a SPAC as a substitute. SPAC, in essence, is the method of buying an unlisted goal firm through a merger, share buy, share trade, asset acquisition, reorganization and different types inside a specified time (often 2 years) after the preliminary public providing of funds by a shell firm with none precise enterprise operations.

According to the statistics of SPAC Analytics, as of the tip of November 2022, 552 corporations within the United States had accomplished listings through a SPAC deal, and the proportion of fundraising accomplished through a SPAC deal in comparison with all sorts of fundraising elevated from 19% in 2019 to 68%.

Sign up at the moment for five free articles month-to-month!

See also  Chinese Veterinarians Fly to USA to Take Care of Giant Panda



Pandaily Substack subscribe

…. to be continued
Read the Original Article
Copyright for syndicated content material belongs to the linked Source : Pandaily – https://pandaily.com/chinese-insurance-tech-startup-cheche-group-mulls-us-listing-through-spac/

ADVERTISEMENT
Tags:ChineseInsurance

Denial of responsibility!tech-news.info is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Previous Post

Framework now sells SSDs for the Steam Deck

Next Post

Great Wall Motor Introduces New CEO to Its WEY Brand

RelatedPosts

Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie
Tech News

Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

March 28, 2023
As its future hangs in the balance, TikTok tries to keep advertisers on its side
Tech News

As its future hangs in the stability, TikTookay tries to keep advertisers on its side

March 28, 2023
Netflix’s CPM still under media buyers’ skin months into its disjointed push into advertising
Tech News

Netflix’s CPM still under media patrons’ skin months into its disjointed push into advertising

March 28, 2023
Tech News

Marketing Briefing: Coca-Cola and other major marketers enter ‘test and learn’ phase with generative AI

March 28, 2023

Recommended.

  • All
  • Tech News
Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

Bonne nouvelle : les propriétaires de voitures électriques doivent rarement en changer la batterie

March 28, 2023
As its future hangs in the balance, TikTok tries to keep advertisers on its side

As its future hangs in the stability, TikTookay tries to keep advertisers on its side

March 28, 2023
Netflix’s CPM still under media buyers’ skin months into its disjointed push into advertising

Netflix’s CPM still under media patrons’ skin months into its disjointed push into advertising

March 28, 2023

Marketing Briefing: Coca-Cola and other major marketers enter ‘test and learn’ phase with generative AI

March 28, 2023
With podcast advertising maturing, more mainstream brands want in on growth

With podcast advertising maturing, more mainstream brands want in on growth

March 28, 2023
Fubo’s Lynette Kaylor typifies the modern TV ad sales exec

Fubo’s Lynette Kaylor typifies the modern TV ad sales exec

March 28, 2023

Tags

-Inch (41)amazon (80)Android (67)Announces (35)Apple (239)Apples (42)Black (44)ChatGPT (46)Chinese (63)Cyber (45)Deals (61)Digital (39)First (46)Friday (36)Galaxy (182)Gaming (60)Google (188)Heres (55)Huawei (35)iPhone (100)Launch (61)launches (61)Lenovo (42)Microsoft (106)Motorola (35)OnePlus (122)Phone (42)Pixel (58)price (32)Realme (63)Redmi (58)Review (104)Samsung (241)Security (32)series (40)Snapdragon (32)Tech News (364)Tesla (47)Twitter (85)unveils (40)Watch (73)Weekly (36)Windows (42)Xiaomi (102)YouTube (32)

Categories

Archives

March 2023
MTWTFSS
 12345
6789101112
13141516171819
20212223242526
2728293031 
« Feb  
© 2022 Tech-News.info
DMCA.com Protection Status
No Result
View All Result
  • Home 2

© 2022 Tech-News.info
DMCA.com Protection Status

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
error: Alert: Content selection is disabled!!
Go to mobile version

Chinese Insurance Tech Startup Cheche Group Mulls US Listing through SPAC19Chinese Insurance Tech Startup Cheche Group Mulls US Listing through SPAC*Chinese Insurance Tech Startup Cheche Group Mulls US Listing through SPAC