New Economy service platform 36Kr releases lists of Quality Enterprise Service Companies
BEIJING, June 23, 2020 /PRNewswire/ -- The COVID-19 epidemic brings great challenges to the daily operations of many enterprises. To help companies reduce customer acquisition costs, 36Kr, a NASDAQ-listed company with the ticker of KRKR, launched a selection of "WISE2020 Gold Enterprise Service Providers". This selection aims to screen out the best companies in the field of enterprise service, which will help the demand-end corporates efficiently connected with the supply-end. Now more than 400 companies have been shortlisted for the selection and more than 2.4 million users have voted for the companies since the selection launched.
This lists of companies will include many industries, such as customer relationship management, ERP, online office, human resource management, finance and tax management and so on. The lists are bolsterd by 36Kr's data capability of more than 840,000 companies information. The companies on the lists will get rights include brand reporting, resource docking, and innovation consulting. The lists will become one of the references to help startups connect with investment institutions, help traditional enterprises better embrace innovation, and assisting local governments to attract investment opportunities.
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 grows as 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 06, 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.