The Baidu and SoftBank-backed on-demand staff provider floated in the middle of its range in a US offering and its market cap currently stands at about $600m.

Quhuo, a China-based staffing services provider backed by internet company Baidu and telecommunications and internet group SoftBank, has floated on the Nasdaq Global Market in a $33m initial public offering.

The company priced 3.3 million shares at $10.00 each, in the middle of the $9 to $11 range it had set. Its shares peaked at $20.90 on their first day of trading on Friday and closed at $11.59 yesterday giving it a valuation of about $600m.

Founded in 2012,…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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