三位驴友卖门票，年入29亿，即将IPO

Core Viewpoint - Klook, a cross-regional experience aggregation platform, has filed for an IPO to raise between $300 million and $500 million, aiming to capitalize on the growing demand for travel experiences in the Asia-Pacific region [3][4]. Company Overview - Klook was founded in 2014 and became a unicorn in 2018, headquartered in Hong Kong with teams in 18 countries [3][4]. - The company specializes in selling overseas attraction tickets, day tours, and various transportation passes, with a focus on unique local experiences [3][4]. Market Position and Performance - Klook's core market is in the Asia-Pacific region, offering approximately 310,000 experience products across around 4,200 destinations by September 30, 2025 [4][23]. - The total transaction volume for Klook is projected to reach $2.5 billion in 2024, making it the largest experience aggregation platform in the Asia-Pacific [4]. - In the first nine months of 2025, Klook reported nearly $2.3 billion in total transaction volume [4]. Founders and Team - The founding team consists of Lin Zhao-Wei, Wang Zhi-Hao, and Xiong Xiao-Kang, all with backgrounds in finance and technology [4][9]. - The founders' shared passion for travel and their experiences in investment banking led to the creation of Klook [9][12]. Funding and Valuation - Klook has completed nine rounds of financing, with notable investors including Sequoia Capital, SoftBank, and Goldman Sachs, achieving a valuation of approximately $3 billion [7][25]. - As of the IPO filing, Sequoia holds about 15.5% of the shares, while Lin Zhao-Wei owns approximately 20.5% [7][25]. Business Model and Revenue - Klook's revenue primarily comes from commissions on travel experience sales, with a small portion from advertising fees [25]. - The company has not yet achieved profitability, but losses are narrowing, with revenue projected to grow from $129 million in 2022 to $417 million by 2024 [25]. Challenges and Opportunities - Klook faces challenges in a highly fragmented service industry, with competition from traditional OTAs and emerging platforms [27][28]. - The Asia-Pacific market is expected to grow significantly, with a projected market size of $105 billion by 2024, representing nearly one-third of the global market [28].