This article was published on July 15, 2014

The Asian payments firm that acquired Friendster is now bidding to go public in the US


The Asian payments firm that acquired Friendster is now bidding to go public in the US
Jon Russell
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Jon Russell

Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

Payments company MOL Global is the latest Asian tech company to seek a US public listing, after it filed for an initial public offering that could raise as much as $300 million, Reuters reports.

The Malaysia-based company is perhaps best known for acquiring once-popular social network Friendster, but its technology enables payments for a range of online sites and companies across Southeast Asia. The company’s annual revenues jumped 79 percent to $54 million in 2013, while profits tripled to reach $5.8 million.

China’s Alibaba is set to go public on the New York stock exchange later this year in a listing that will surpass that of Facebook, but it is far from the only tech company in Asia eyeing the public markets. JD.com and Weibo are among those that have already listed Stateside this year.

MOL Global Form F1 | Via  Reuters

Related: 15 tech IPOs from Asia to watch out for in 2014

Thumbnail image via Spencer Platt / AFP / Getty Images