Emboldened by its monopoly as the world’s largest commercial drone maker, DJI creatively chose to let enthusiastic investors bid for its latest round – also thought to be pre-IPO – of financing which consists of Class-B equity stake and Class-D interest-free loans. The Shenzhen-based company received bids from nearly 100 investors that propelled the sum of subscriptions to more than 30 times its original plan, a participant investor told local media Tencent Tech.
DJI originally planned to raise US$1b at $15b valuation. Some of its previous investors include Sequoia China and Accel Partners. DJI’s sales reached 18 billion yuan ($2.8 billion) last year.
Source: All Weather TMT
