Core Insights - Klook has officially submitted its IPO prospectus to the SEC, aiming to list on the NYSE, with major banks like Goldman Sachs and Morgan Stanley as underwriters [1] - The company was founded in 2014 by three individuals who were inspired by a subpar travel experience, leading them to create a platform focused on destination services and deep travel experiences [2][4] - Klook has expanded its operations to approximately 4,200 destinations globally, offering around 310,000 travel products, catering primarily to tech-savvy millennials and Gen Z consumers [6][11] Company Overview - Klook was established in Hong Kong and has since expanded to Singapore and other regions, focusing on the "experience economy" rather than traditional travel services [4] - The founders have backgrounds in investment banking and technology, which has helped Klook navigate the competitive landscape of online travel [2][4] Funding and Financial Performance - Klook has raised significant funding over the years, including a $2 billion D round in 2018, achieving unicorn status with a valuation exceeding $1 billion [8] - Despite the pandemic's impact on the travel industry, Klook adapted by focusing on local experiences and staycations, leading to a successful $200 million E round in 2021 [9] - As of the first nine months of 2025, Klook reported a gross transaction value (GTV) of $2.3 billion, a 30.9% increase year-over-year, although it has incurred losses totaling over $500 million in the past four years [11] Market Trends - The global travel industry is expected to grow significantly, with projections indicating a market size of $15.5 trillion by 2033, particularly in the Asia-Pacific region [13] - There is a shift in consumer behavior towards experience-based travel, especially among younger generations who prioritize unique and personalized experiences over traditional sightseeing [15]

Core Insights - Klook has officially filed for an IPO in the US, aiming to list on the New York Stock Exchange with major underwriters including Goldman Sachs, Morgan Stanley, and Citigroup [3][4] - The company, founded in 2014 by three entrepreneurs after a disappointing travel experience, focuses on deep travel experiences rather than traditional tourism [3][4] - Klook has expanded its operations to approximately 4,200 destinations globally, offering around 310,000 travel products, catering primarily to tech-savvy millennials and Gen Z consumers [8][14] Company Overview - Klook was established in Hong Kong and has since expanded to Singapore, Malaysia, South Korea, and other regions, with a technology headquarters in Shenzhen [6][8] - The founders have backgrounds in investment banking and technology, which has helped Klook navigate capital operations and business strategies effectively [4][6] - The company operates in the "experience economy," focusing on enhancing user experiences at travel destinations rather than just facilitating travel [6][8] Financial Performance - As of the first nine months of 2025, Klook reported a Gross Transaction Value (GTV) of $2.3 billion, a 30.9% increase year-over-year, with 82.5% of revenue coming from the Asia-Pacific region [14] - Despite the growth in GTV, Klook has faced significant losses, totaling over $500 million in the past four years, with a reported loss of $141 million in the first nine months of 2025 [14][15] - The company has successfully attracted a strong investor base, including Sequoia Capital, which holds 15.5% of Class A shares, and has completed multiple funding rounds, including a recent $210 million round in late 2023 [12][14] Industry Context - The global tourism industry is expected to grow significantly, with projections indicating a market size of $15.5 trillion by 2033, particularly in the Asia-Pacific region [16] - The shift in consumer behavior towards experience-based travel has been noted, with younger generations prioritizing unique and personalized experiences over traditional sightseeing [16][18] - Klook's business model aligns with this trend, as it focuses on providing diverse local experiences and activities, catering to the evolving preferences of modern travelers [16][18]