Core Viewpoint - Klook, known as the "Hong Kong version of Ctrip," has filed for an IPO with the SEC, marking a significant moment for its investors despite the company never having achieved profitability since its establishment in 2014 [1][2]. Company Overview - Klook was founded in 2014 and is one of the few unicorns to emerge from Hong Kong, focusing on non-standard travel products, unlike traditional OTAs like Ctrip and Booking that offer standardized services [2][3]. - The platform supports 14 languages, 40 currencies, and over 40 payment methods, providing 310,000 travel booking services across approximately 4,200 destinations globally [2]. - Klook is projected to achieve 54.5 million bookings in 2024 and over 65 million bookings in the year ending September 30, 2025 [2]. Financial Performance - Klook has not turned a profit in its 10 years of operation, with revenues of $129 million, $335 million, $417 million, and $407 million for the years 2022, 2023, 2024, and the first three months of 2025, respectively [3]. - The corresponding net losses for these years were $123 million, $142 million, $99 million, and $141 million [3]. - However, the company showed signs of improvement in 2025, with adjusted EBITDA turning positive in the second and third quarters, reaching approximately $5 million per quarter [3]. Investment and Funding - Klook's co-founders control approximately 20.5% of the company's shares through various investment vehicles [4]. - Since its inception, Klook has completed nine funding rounds, raising over $1 billion, with notable participation from Sequoia China, which has invested in six rounds [4][5]. - Recent funding rounds include $210 million from Asian financial institutions in December 2023 and $100 million led by Veen Capital in February 2025, aimed at enhancing AI technology and digital transformation [5].

被称为"港版携程"的旅游体验平台客路旅行(Klook)日前向美国证券交易委员会(SEC)公开披露招股书。 多家知名投资机构在参与投资多年后终于迎来收获时刻。但从经营上看，公司成立后从未实现盈利，同 时在全球化扩张中，如何面对行业巨头同样是公司需要面对的问题。 多家知名机构参与投资 Klook三位联合创始人通过EEB Capital Limited、Venus Alpha Holdings、ARK Trust(Hong Kong)等持有和 控制公司901.7341万股A类股票、1744.1395万股B类股票，分别占总股数的7.0%、13.5%，合计持有和 控制约20.5%的股权。 其中，EEB Capital Limited持有376.8155万股A类股票、1610.8061万股B类股票，分别占总股数的2.9%、 12.4%，合计持有和控制约15.3%的股权。该机构由三位创始人林照围持股41.7%、王志豪持股38.9%、 熊小康持股19.4%。 除创始人外，多家知名投资机构也参与其中。自2014年成立以来，Klook已完成9轮融资，总额超10亿美 元，红杉中国(HSG Venture)更是累计跟投6轮。 成立1 ...