On May 12, Phoenix New Media was officially listed on the New York Stock Exchange under the trading code "FENG".
Phoenix New Media has an issue price of US $ 11 per share. This time, 12.77 million American Depositary Shares (ADS) were issued, raising funds of US $ 144.7 million.
Phoenix New Media is a cross-platform network media wholly-owned by Phoenix Satellite Media Group. With Phoenix Network as its flagship, it integrates the three major platforms of the Internet, wireless communication network and network video, namely the comprehensive portal Phoenix Network () and mobile phone Phoenix Network (3g.ifeng .com) and Phoenix Video (v.ifeng.com). As of the end of March 2011, Phoenix New Media had a total of 222 million users. The main profit came from paid services. In 2010, 39% of revenue came from advertising. Phoenix New Media's profit in 2010 was 74.1 million yuan (about 11.2 million US dollars), and the total revenue was as high as 528.7 million yuan (about 80.1 million US dollars).
According to reports, Phoenix New Media had received US $ 25 million in investment from Morningside Ventures, Intel Capital, and Bertelsmann Asia Investment Fund on November 24, 2009. As of before the listing, among Phoenix New Media's shareholders, Phoenix Satellite TV held 64.84%, Morningside Ventures and its investment director Liu Qin held over 12.64%, Intel Capital held 10.54%, and Betasman Asia Investment Fund held 3.16. %.
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