Klook Withdraws U.S. IPO Plans, Citing Market Conditions
Klook has officially pulled its planned New York Stock Exchange IPO after delaying the offering into 2026 amid market headwinds.
Stock photo for illustration only, not from the actual event
- Klook has officially withdrawn its planned U.S. initial public offering.
- The company reported 43% revenue growth for the first nine months of 2025.
- Only 34% of the global experiences market was booked online in 2024.
Travel experiences platform Klook has decided to withdraw its planned initial public offering in the United States, choosing to wait for more favorable market conditions rather than moving forward with its New York listing at this time.
A company spokesperson stated that current market conditions do not make it the right moment to proceed with an IPO, adding that management will continue evaluating the appropriate timing for a public listing in the future without setting a fixed timeline.
The decision brings an end to an IPO journey that initially kicked off with a New York Stock Exchange filing in November 2025, where the company targeted raising between $300 million and $500 million. The offering was later postponed into 2026 as travel tech investor appetite remained cautious.
Stock photo for illustration only, not from the actual event
Regulatory filings revealed that Klook generated $407.4 million in revenue for the nine months ending September 2025, marking a 43% increase compared to the previous year. Gross transaction value climbed 31% to $2.3 billion, and adjusted EBITDA turned positive at $6.3 million compared to a $20 million loss previously. However, the net loss widened to $141.5 million.
"Given current market conditions, Klook has decided this is not the right time to proceed with an IPO, and we will continue to evaluate the right time for a listing."
Klook Spokesperson
Klook's decision to pull its public offering highlights the ongoing prudence among travel technology firms navigating uncertain market sentiment. While revenue growth remains robust, competing against major players like Viator in a sector where offline bookings still dominate requires strategic patience and heavy investment in digitalization.
According to Skift Research analysis, Klook accounted for approximately 0.8% of the global experiences market in 2024, trailing behind Viator's 1.3% share. The sector leaves significant room for expansion, given that only 34% of total bookings were completed online.
Co-founder and president Eric Gnock Fah noted that Klook intends to use experiences as a springboard for adjacent travel spending, supported by a beta AI shopping agent and a network of over 30,000 creators across 88 markets, with bookings on track to surpass 80 million this year.
Source: Skift
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