DeepSeek is preparing for an initial public offering and has selected CITIC Securities to manage the listing process on the STAR Market in Shanghai. The company is transitioning from a research lab structure to a traditional corporate model to facilitate this move.
To lead this transformation, the firm is hiring Yan Wentao, a partner at GL Ventures, as its first Chief Financial Officer. Yan brings extensive experience in deal-making, which is critical for managing investor relations, regulatory compliance, and capital allocation during the IPO process.
The company, founded by Liang Wenfeng, was initially funded by his private hedge fund, High-Flyer, from 2023 until early 2026. In June, DeepSeek secured approximately $7,4 billion in funding at a valuation exceeding $50 billion. Future funding rounds may reach a valuation of $74 billion.
