The official website of the Shanghai Stock Exchange shows the landing of Arashi Vision Inc. was approved, which means that it is only a matter of time before the company lands in the Shanghai Sci-Tech Innovation Board.
Headquartered in Shenzhen, Arashi Vision is mainly known for its Insta360 camera while its core focus is the R&D, production and sales of virtual reality and spherical video cameras. Its products are often used in outdoor sports.
According to market intelligence firm Greenlight Insights, the global market of 360 cameras will reach $593 million in 2020 and is expected to grow to $1.21 billion in 2025, with a compound growth rate of 15.16%. Up to now, sales channels of Insta360’s product cover both online and offline and can be found in more than 60 countries and regions around the world.
Insta360 Nano was the first hardware product made in China and recommended by Facebook’s official account.
The company’s financial report shows that from 2018 to 2020, its revenues were 258 million yuan ($39.9 million), 580 million yuan and 850 million yuan, up 61.94%, 127.64% and 44.58% respectively. Net profit was 18 million yuan, 56 million yuan and 120 million yuan, up by 194.41%, 207.76% and 113.96% respectively. Even the pandemic had little impact on the company’s performance.
Once Arashi Vision is successfully listed, Liu Jingkang, founder and CEO of the leading 360-degree camera maker, is expected to become the first person who was born after the 1990s to ring the opening bell at the Shanghai Sci-Tech Innovation Board.
Liu Jingkang, who was fascinated by computer technology since childhood, was admitted to Nanjing University in 2010 to study Software Engineering. After graduation, the technophile grabbed the opportunity, entered the field of panorama cameras, and established Arashi Vision in 2015 and almost immediately saw revenue climb to 850 million yuan a year.
It took Liu only six years from the establishment of his company in 2015 to the upcoming listing. Whenever he mentions the original intention of starting a business, he would say, “Entrepreneurs probably have a motivation to change the world or create wealth. At first, starting a business was fun and brought me good income, but in the final analysis, I still have a belief in my heart, which is something worth taking risks and persisting in.”
According to Chinese media outlet PEdaily, Arashi Vision has completed eight rounds of financing since its establishment, with investors such as IDG Capital, Qiming Venture Partners, Huajin Capital, and Everest VC.