Liulishuo, an app that teaches English to Chinese students, is planning an initial public offering in the U.S. as it seeks to expand in the competitive business of online education, people familiar with the matter said.
The company is planning to list as soon as the fourth quarter, the people said, requesting not to be identified discussing private matters. It’s looking to raise as much as $300 million, one of the people said. Known also as LingoChamp, the company is targeting a valuation of about $2 billion, another person said. The targeted valuation and IPO size could both change, the people said.