IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Zhihu Technology / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/zhihu-technology-ltd" target="_blank" data-smartkarma-citation="entities:32185:1" rel="noopener">Zhihu Technology (ZH US)</a> is the largest Q&amp;A-inspired online community and one of the top five comprehensive online content communities in China, both in terms of average mobile MAUs and revenue in 2020, according to CIC. Zhihu is acknowledged as the first choice among all online content communities in China where people look for information to make decisions or find answers, according to CIC.</p><p>Zhihu is backed by <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> (12.3% of outstanding shares, 7.1% of voting interest), <a href="https://www.smartkarma.com/entities/beijing-kuaishou-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:29725:1" rel="noopener">Kuaishou Technology (1024 HK)</a> (8.3% of outstanding shares, 4.8% of voting interest) and <a href="https://www.smartkarma.com/entities/baidu-inc" target="_blank" data-smartkarma-citation="entities:179:1" rel="noopener">Baidu (BIDU US)</a> (5.0% of outstanding shares, 2.9% of voting interest). Zhihu has filed for an NYSE IPO to raise proceeds of $1 billion, according to press reports. </p><p>Online content communities have a high level of user engagement, which enables them to pursue a wide variety of monetisation opportunities, resulting in more sustainable business models. Q&amp;A content by nature encourages a high level of user interaction and stirs sharing of knowledge, experience and insights. Crucially, users are progressively demanding quality online content and have shown a growing willingness to pay for them. Over 80% of surveyed users are willing to pay more for high-quality online content in the future, according to CIC. Also, merchants and brands in China increasingly use online content communities for marketing services to help develop a brand narrative that can appeal to customers and drive conversion.</p><div class="content-highlight"><p>As the largest Q&amp;A-inspired online community, Zhihu is well-positioned to benefit from these favourable trends. Overall, we believe that Zhihu’s fundamentals are attractive.</p></div>

Zhihu Technology (ZH US) is the largest Q&amp;A-inspired online community and one of the top five comprehensive online content communities in China, both in terms of average mobile MAUs and revenue in 2020, according to CIC. Zhihu is acknowledged as the first choice among all online content communities in China where people look for information to make decisions or find answers, according to CIC.Zhihu is backed by Tencent Holdings (700 HK) (12.3% of outstanding shares, 7.1% of voting interest), Kuaishou Technology (1024 HK) (8.3% of outstanding shares, 4.8% of voting interest) and Baidu (BIDU US) (5.0% of outstanding shares, 2.9% of voting interest). Zhihu has filed for an NYSE IPO to raise proceeds of $1 billion, according to press reports. Online content communities have a high level of user engagement, which enables them to pursue a wide variety of monetisation opportunities, resulting in more sustainable business models. Q&amp;A content by nature encourages a high level of user interaction and stirs sharing of knowledge, experience and insights. Crucially, users are progressively demanding quality online content and have shown a growing willingness to pay for them. Over 80% of surveyed users are willing to pay more for high-quality online content in the future, according to CIC. Also, merchants and brands in China increasingly use online content communities for marketing services to help develop a brand narrative that can appeal to customers and drive conversion.As the largest Q&amp;A-inspired online community, Zhihu is well-positioned to benefit from these favourable trends. Overall, we believe that Zhihu’s fundamentals are attractive.

Zhihu Technology

Zhihu IPO Initiation: Question Time