IPO For Chinese GoPro Rival
A Chinese company that sells cameras able to film 360-degree video, Insta360, has raised $30 million in funding and is planning to go public in 2020.
Insta360 said it would also take on new investments from the public market so it can aggressively innovate and change the camera industry. The company plans to list in mainland China but has not yet decided on a specific location.
Insta360 sells cameras that can plug into smartphones and record 360-degree video. Users can edit videos on their smartphones. Insta360 has also expanded its products into action cameras, standalone hardware designed to capture fast-moving sports or activities.