QQJ, a Chinese online shopping platform that connects suppliers, businesses, and consumers, raised the proposed deal size for its upcoming IPO on Thursday.
The Hangzhou, China-based company now plans to raise $30 million by offering 5 million shares at a price range of $5 to $7. The company had previously filed in June 2024 to offer 2.3 million shares at a price range of $4 to $5. They had originally filed in February 2024 to offer the same number of shares at $4. At the midpoint of the revised terms, QQJ will raise 196% more in proceeds than previously anticipated and command a market cap of $120 million (+55% versus previous terms).
QQJ is an e-commerce platform building an integrated ecosystem of business, shopping, entertainment, and social media for people aged 40 and older. Launched formally in 2021, its Quanqiujia mobile platform utilizes an S2B2C model. The platform selects suppliers through vigorous screening process to offer products across a large variety of categories. It offers membership to mini businesses to sell their products, enabling them to build their e-commerce operations through its social shopping network. For consumers, it offers products with competitive pricing and features.
QQJ was founded in 2021 and booked $10 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol QQJ. Kingswood Capital Markets is the sole bookrunner on the deal.
