Jinxin Technology Holding, which provides a digital textbook and educational content platform for K-9 students in China, filed on Thursday with the SEC to raise up to $5 million in an initial public offering.
Jinxin Technology provides a digital textbook platform and digital educational content for K-9 students in China. The company collaborates with textbook publishers in China to provide digital version of mainstream textbooks used in primary and middle schools. It also creates and develops digital self-learning contents and leisure reading materials in-house. The company distributes content primarily through its flagship learning app, Namibox; telecom and broadcast operators; and third-party devices. Since its inception, the Namibox app has amassed over 77 million cumulative downloads and more than 35 million registered users as of December 31, 2022. Jinxin Technology eventually plans to further expand its service offerings to include other age groups.
The Shanghai, China-based company was founded in 2014 and booked $33 million in revenue for the 12 months ended December 31, 2022. It plans to list on the Nasdaq, though it has not selected a symbol yet (RC ticker: JXNT.RC). Jinxin Technology Holding filed confidentially on March 27, 2023. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
