Chinese Fitness Tech Firm Keep Undergoes Organizational Revamp, Prepares for IPO
Sina Tech reported on Thursday that, according to at least two sources, Chinese fitness technology company Keep has recently carried out a large-scale organizational restructuring to improve efficiency. The aim is to increase users and revenue, as well as to enhance organizational efficiency.
Another source said that the company would soon submit an application for a listing hearing on the main board of the Hong Kong Stock Exchange (HKEx). Therefore, this organizational restructuring is considered as one of the measures for Keep to prepare to carry out an IPO. The company responded to Jiemian News that similar structural adjustments have been made at least once per year during its seven years’ growth period.
The company’s organizational structure has been adjusted as follows. The RDC department was split and its content and operation were assigned to the Keep app, which Peng Wei is responsible for. In addition, Peng is also in charge of the firm’s membership business. While the RDC retained its “Middle Platform Department,” the head Huang Jingjing now reports directly to Wang Ning, founder and CEO of Keep. In addition, Huang is also responsible for the firm’s advertising business.
Liu Dong, co-founder of Keep, continues to be in charge of the company’s consumer goods business which is mainly the R&D and sales of sportswear, AIoT, other consumer goods as well as smart devices.
According to recently revealed information, consumer business is Keep’s main income source besides its membership and advertising, accounting for the largest proportion of Keep’s income. After this round of restructuring, Liu planned to move the whole business from Beijing to Hangzhou while some teammates worked in Shenzhen.
SEE ALSO: China’s Most Popular Fitness App Keep Valued at $2 billion Following New Funding Round: Reports
Following the introduction of a CPO and CFO, the company introduced CMO (Chief Marketing Officer) Li Dan at the end of 2021, mainly responsible for the marketing department and reporting directly to Wang Ning. Before joining this company, Li had worked for Tencent, OPPO and other companies.