Klook, a Hong Kong- and Singapore-based travel booking company, is filing for an initial public offering in New York, showing that despite the events of the past year, the U.S. remains a top listing destination for Asian companies.
In its IPO prospectus, Klook revealed that it generated $417.1 million in revenue in 2024, a 24% increase. Yet the company isn’t profitable, losing $99.3 million last year.
Klook is pursuing an IPO right as tourism is surging around the world, as travelers are eager to go on holiday after years of COVID-era lockdowns. According to a May report by the World Travel and Tourism Council, the travel sector is set to generate $11.7 trillion in 2025, making up 10.3% of global GDP.
Klook is listing in New York amid tense relations between the U.S. and China.
