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Alibaba-backed cloud service Qiniu files $100m IPO in US

Chinese startup earmarks Nasdaq listing for expansion in growing market

Qiniu offers cloud and analytics solutions featuring data collection, storage, distribution, livestreaming and data processing and analytics. (Photo by Shuhei Yamada)

HONG KONG -- Alibaba-backed Chinese media and data cloud service platform Qiniu has filed for an initial public offering on Nasdaq to raise as much as $100 million.

Shanghai-based Qiniu, which counts e-commerce giant Alibaba's affiliate Taobao China as its biggest institutional shareholder with a 17.7% stake, has yet to reveal the terms of the offering, and the filing figure is subject to change.

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