Huami Corporation, a Chinese manufacturer of low-cost wearable devices backed by smartphone maker Xiaomi, raised a smaller-than-expected US$110 million in a public float on the New York Stock Exchange today. The offering, which was less than the hoped for US$150 million, gives Huami a market valuation of US$690 million, much lower than its previously rumored US$1 billion price tag. Media had been giving Huami a US$1 billion valuation as early as 2016, likely due to rumors promoted by Huami or …

IPO Strips Huami Of Its Unicorn Status; More Unicorn Downgrades To Come? appeared first on China Money Network.