Chinese artificial intelligence (AI)-powered mobile internet firm CooTek, best known for keyboard application TouchPal, is seeking US$57 million in a downsized initial public offering (IPO) in America. The Shanghai-based company, backed by Sequoia Capital China and Chinese venture capital firm Qiming Venture Partners, plans to raise US$57 million by offering 4.35 million American depositary shares (ADS) at a price range of US$12 to US$14. The offering has scaled back from the US$100 million it originally intended to raise in a prospectus the company …

Chinese Maker of TouchPal Keyboard CooTeck Lowers US IPO Target To $57M appeared first on China Money Network.