Congratulations to BaishanCloud on Its Successful NASDAQ Listing | Gaorong Ventures News

On December 26, Chinese audio and video technology service provider Baijiayun announced the completion of its merger and public listing with Fuwei Films (Holdings) Co., Ltd. With this, Baijiayun officially began trading on the Nasdaq, becoming China's first listed audio and video SaaS company. The company's new ticker symbol will be "RTC," short for "Real Time Communication."

Gaorong Ventures has been one of Baijiayun's early shareholders since 2017, backing the company through to this milestone. We congratulate Baijiayun on five years of steady execution and its successful Nasdaq debut. Amid the wave of enterprise digital transformation, we look forward to Baijiayun leveraging its technological leadership and product excellence to deliver one-stop video technology services to more corporate clients.

On the listing, Baijiayun President Ma Yi said: "At a time when the digital economy is taking off, cloud-based work, shopping, and livestreaming have already become the new normal. Yet the online potential of education, finance, and healthcare remains far from fully tapped. Listing on the Nasdaq is the culmination of five years of hard work. Going forward, Baijiayun will treat this listing as a new starting point, adhering to long-termism and value creation — moving steadily and surely to achieve more in video technology services and contribute more to domestic enterprises' digital transformation."

Founded in 2017, Baijiayun is a B2B video cloud technology service provider that helps enterprises address various pain points and needs in video technology applications. Through three major product and service categories — "video SaaS/PaaS services, video cloud products and software, and video system solutions" — the company uses integrable and customizable livestreaming technology to help clients rapidly deploy their own dedicated livestreaming systems, enabling digital learning and digital marketing transformation powered by online video technology. Its services are primarily used in education, corporate training, marketing, exhibitions, recruitment, annual meetings, and other business scenarios.

In its early days, Baijiayun built its reputation on audio and video SaaS services. It then leveraged product strength to expand rapidly across industries, extending its reach from the broad education market into automotive, finance, healthcare, telemarketing, and other sectors. The company also pushed its capabilities down to underlying foundational technology, launching real-time audio and video communication PaaS services in 2020 to provide private cloud deployment and deep customization for government clients and large enterprises.

According to the previously disclosed Proxy Statement, Baijiayun generated $23.37 million in revenue in fiscal year 2020 and $41.45 million in 2021 — a growth rate of nearly 80% — with business expanding rapidly. Over the past two fiscal years, the company maintained net profit margins of around 10%, staying profitable.

Currently, Baijiayun serves well-known clients including BMW, Hisense Group, ICBC, Apple, GAC, Northeast Securities, ChinaBond, Roche Diagnostics, Canon, Huatu Education, and Beijing Normal University. The company has also established deep service roots across the country, with subsidiaries, R&D centers, and offices in more than ten regions including Beijing, Shanghai, Shenzhen, Nanjing, Wuhan, Xi'an, Zhengzhou, Chengdu, Nanning, Changsha, Shenyang, Jinan, Suzhou, Guilin, Shijiazhuang, and Xinjiang.

Deep technical expertise, comprehensive regional coverage, and accumulated success with major clients position Baijiayun to penetrate across industries and scenarios more easily, helping clients of all sizes acquire audio and video capabilities and achieve online and digital transformation. Going forward, supported by its public listing platform, Baijiayun will continue to broaden its business and deepen its presence in the domestic audio and video market.