But since speculated to plan an IPO last October, the company has moved quickly and is expected to push ahead the IPO process speedily, according to a person with knowledge of the matter.
Bilibili’s net revenues grew from RMB131.0 million (US$20.1 million) in 2015 to RMB523.3 million (US$80.4 million) in 2016 and further to RMB2,468.4 million (US$379.4 million) in 2017.
Though the company is still operating at a loss, recording a net loss of RMB373.5 million (US$57.4 million), RMB911.5 million (US$140.1 million) and RMB183.8 million (US$28.2 million) in 2015, 2016 and 2017, respectively, according to the filing.
China’s online entertainment industry market reached RMB205.8 billion in 2016 and is expected to grow at a compound annual growth rate of 29.6% to RMB752.7 billion in 2021.
Their market share contribution to the online entertainment industry in China in terms of dollar spending is expected to grow from 45.8% in 2014, to 54.8% in 2017 and further to 62.1% in 2020, according to iResearch.