Asian travel platform Klook is filing for a New York IPO

Company Overview - Klook is a travel booking company based in Hong Kong and Singapore, founded in 2014, and claims to be the largest experience booking platform in Asia by gross transaction volume, with 65 million experiences booked in the twelve months ending September 30 [1] IPO Details - Klook is filing for an initial public offering (IPO) in New York, working with Goldman Sachs, JPMorgan, and Morgan Stanley, and plans to list under the ticker "KLK" [2] - The company generated $417.1 million in revenue in 2024, reflecting a 24% increase, but reported a loss of $99.3 million last year [2] Market Context - The IPO is occurring amid a global surge in tourism as travelers are eager to vacation after COVID-era lockdowns, with the travel sector projected to generate $11.7 trillion in 2025, accounting for 10.3% of global GDP [4] - Klook competes with other Asian travel platforms such as Trip.com and Traveloka, as well as global competitors like GetYourGuide and Booking.com, offering services in 4,000 destinations worldwide [3] Regulatory Environment - Klook's listing comes at a time of tense relations between the U.S. and China, with concerns about potential delisting of Chinese companies from U.S. exchanges due to non-compliance with auditing standards [5][6] - The company has flagged concerns about delisting as a risk factor in its IPO filing, despite having principal executive offices in both Singapore and Hong Kong [7]