The IPO Buzz: Klook (KLK Proposed) Files to Go Public as Shutdown Nears End

Klook Technology Ltd. (KLK Proposed), a global travel experiences app backed by Softbank, filed its IPO plans on Monday afternoon, Nov. 10, 2025, without disclosing terms. Klook’s IPO could raise as much as $300 million to $500 million, according to Bloomberg. The big IPO filing came on the same day that Congress appeared closer to resolving the U.S. government’s six-week shutdown – the longest in the country’s history. The U.S. Senate approved a bill to end the 41-day shutdown last night and fund much of the government through Jan. 30. The measure now goes to the House.

Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead joint book-runners.

Klook’s IPO is a New York Stock Exchange listing.

Softbank of Japan owns about 11.1 percent of Klock’s stock, according to the S-1 filing. HongShan Capital Group, formerly known as Sequoia Capital China, owns a 15 percent pre-IPO stake.

Klook Technology, founded in 2014, is based in Singapore and Hong Kong. Travelers use it to book tours, attractions and more. Klook ranked as the largest pan-regional experiences platform in the Asia-Pacific (APAC) by gross transaction volume in 2024. Klook’s competitors include Booking.com and Tripadvisor.

“We connect travelers with merchants providing a vast array of activities, tours, attractions and other travel services across the globe,” Klook said in the prospectus.

“Our platform featured approximately 310,000 offerings spanning around 4,200 destinations as of September 30, 2025, and recorded over 65 million experiences booked for the 12 months ended September 30, 2025.”

For Young Tech-Savvy Travelers

The company’s name, Klook, stands for “Keep Looking.” The app is popular with Millennials and Gen Z.

“Our target users are young, tech-savvy, spontaneous travelers who are eager to explore the world. Our curated offerings, underpinned by approximately 13 million verified reviews as of September 30, 2025, give users confidence to book instantly. Our vibrant community of over 30,000 Klook Kreators creates authentic social media.”

Klook’s revenue grew 24.5 percent in 2024 over 2023 – rising to $417.1 million for the year ended Dec. 31, 2024, from $335.2 million for 2023.

But the company is not profitable. Klook reported a net loss of $155.1 million  on revenue of $540.54 million for the 12 months that ended on Sept. 30, 2025.

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Source: https://www.iposcoop.com/the-ipo-buzz-klook-klk-proposed-files-to-go-public-as-shutdown-nears-end/