188bet mobile, which recently topped the list of mini programs，There is new progress on the road to IPO。

According to the self-media "Unicorn Knows Already" report，188bet mobile is expected to pass the hearing of the Hong Kong Stock Exchange in early October，Listed in mid-November，The valuation will then reach HK.0-42.6 billion (approximately HK.5~54.USD 500 million)。The joint sponsor of this IPO is Morgan Stanley、JPMorgan Chase and CMB International，The expected dynamic price-to-earnings ratio in 2019 is around 20~25 times。

The prospectus did not disclose the specific financing amount，But according to TechWeb citing Hong Kong media news，188bet mobile plans to raise funds for the listing between US billion and US.5 billion。This news coincides with the Wall Street Journal report in March this year。

December 9, 2017，Tongcheng Network and eLong Travel Network, which were split from Tongcheng, were officially announced，Merged into a new company called "188bet mobile"。After the merger, 188bet mobile no longer develops independent apps，Replaced by “188bet mobilecom” and a WeChat applet called “Hotel, Flight, Train”。

Since then，188bet mobile has completely become a company that “lives” in WeChat: relying on WeChat to obtain traffic entrance，Rapidly rising ranking in the mini program。This speed is just like the news of Cheng Yilong’s listing just three months after the merger: it was just a hasty package of both parties’ businesses，launched a sprint towards Hong Kong stocks。

Combining the Aladdin rankings of the past few months and finding out，The "Hotel, Flight, Train" applet in May and June，The ranking has risen to 4th and 9th，The ranking in the previous three months was only 26th、46 and 62。The latest news is，September 18，“Hotel, Air Ticket, Train” topped the Aladdin Index Daily List，Become the first mini program to successfully challenge "Jump"。

Continuously affected by National Day travel，188bet mobile’s “Hotel, Flight, Train” applet，Now it still occupies the first place on the Aladdin mini program daily list。

Not just relying on WeChat mini programs，188bet mobile also opened the two entrances of "train tickets, air tickets" and "hotels" in WeChat wallet，All service resources provided by 188bet mobile，Realized resource interoperability between Tongcheng Network and eLong Travel Network on the business side，Complete membership level at the same time、Comprehensive upgrade of the mall points system。

The latest news is，188bet mobile launched VR booking function on the “Hotel” channel，You can view the whole room and details in 360° without blind spots，More real、Comprehensive understanding of hotel room information。

It can be said，188bet mobile Network and eLong Travel Network merged，Start to find a way out in the WeChat ecosystem，Is a key step to once again compete for the OTA market。And Cheng Yilong is going smoothly in the WeChat ecosystem，It is even more inseparable from the support of Tencent。

Information disclosed according to the prospectus，Tencent is the largest shareholder of 188bet mobile，Hold 24.92% shares；Ctrip is the second largest shareholder，The shareholding ratio is 22.88%。Calculated based on the 27.9 million mobile and 13.7 million PC monthly active users disclosed in the prospectus，Nearly two-thirds of 188bet mobile’s users rely on Tencent to attract traffic。

Scene Lab Wu Sheng once said in an interview，188bet mobile’s all-in on mini-programs has yielded excess returns。Although 188bet mobile is not a company completely incubated in the WeChat ecosystem，But there is no WeChat ecosystem，Many companies will become a thing of the past。

*Source of this article: 36氪，Author: Cao Qian，Original title: "188bet mobile will be listed in November，A unicorn worth US.5 billion “grows” in WeChat》.