Movie-Ticketing Platform: China and Tech

movie-ticketing platform: Falling valuations risk denting investor enthusiasm for future funding rounds - potentially limiting the amounts startups are able to raise, according to Global Times China. One senior tech-focused dealmaker estimated that targeted valuations had fallen between 20 and 40 percent in China's tech space, over the last three months alone. Photo VCG Investors are bracing for a series of down rounds in China's much-hyped tech sector as weak stock markets worldwide and the country's economic slowdown weigh on the once-buoyant private markets. Maoyan Entertainment, China's biggest movie-ticketing platform by sales, became the latest example of weak starts among Chinese tech firms listing in the financial hub, as the Hong Kong initial public offering of the group, backed by Tencent Holdings Ltd, valued the company at 2.16 billion - more than a quarter less than the valuation reached in its last 2017 funding round. Shares in Maoyan Entertainment opened at HK 14.82 1.89 barely higher than the initial public offering IPO price of HK 14.8, which was already at the bottom end of the indicative range. Maoyan Entertainment fell 1.1 percent in its Hong Kong stock debut last week. (news.financializer.com). As reported in the news.