Sequoia-backed Chinese grocery app Dingdong Maicai mulls US IPO

Chinese grocery app Dingdong Maicai is considering an initial public offering in the U.S. as soon as this year to bankroll its expansion in the competitive fresh food delivery market, according to people familiar with the matter.

The Sequoia Capital China-backed company is working with advisers on the offering, which could raise at least $300 million, the people said, requesting not to be named because the discussions are private.

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