BEIJING, July 10, 2020 /PRNewswire/ -- In April 2020, in order to help entrepreneurs effectively connect with investors and potential partners through online communication platform, 36Kr, a NASDAQ-listed company with the ticker of KRKR, launched the "8-minute Conference". The 8-minute Conference invites entrepreneurs to focus on introducing their new projects and new products in 8 minutes based on a one-page plan. Potential partners can also communicate with the entrepreneurs online synchronously to achieve more follow-up cooperation.
The project introduction time is limited to 8 minutes, hoping that entrepreneurs will show the core highlights of the project. The 8-minute Conference process includes 15-minute theme share by industry experts, 3-minutes project description and 5-minute online interaction with investors or partners, 7-minute dialogue with 36Kr's senior analysts to discuss the key issues in depth.
8-minute Conference has helped 40 outstanding entrepreneurs publish their new projects through live broadcasts, which has attracted the attention of more than 600,000 people in 2 months. More than 1,000 investors have visited the 8-minute Conference live broadcast room to watch the project release. On average, an independent project can get about 35 accurate dockings.
Founded in 2010, 36Kr is a pioneering and well-recognized brand in New Economy service field in China. Bolstered by the premium content and resources, 36Kr has expanded its types of business to online advertising services, enterprise value-added services, as well as subscription services. Enterprise value-added services business has become the fastest-growing and most promising segment in recent years. In the fiscal year 2019, the revenue of 36Kr's Enterprise value-added services increased by 218.7% year-on-year to RMB320 million (US$45.9 million), which accounted for 48.8% of the total revenue, as the most significant contributor.
On May 6, 2020, 36Kr announced that the board of directors of the Company approved a share repurchase program, under which 36Kr is authorized to repurchase up to a total of 1,000,000 of its ADSs, each representing 25 Class A Ordinary Shares. The boutique Investment Bank Needham recently remained its Buy rating of 36Kr, with a target price of $8/ADS.
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