VeriSilicon Files for IPO: Chinese Silicon Platform as a Service
October 20, 2014 by Chris Lange
VeriSilicon is a silicon platform as a service (SiPaaS) company that provides customers with the ability to bring to market custom silicon solutions that address a wide range of applications across a variety of end markets. These products include mobile devices, networking, the Internet of Things, wearable electronics, smart homes and automotive electronics. The SiPaaS solution offers end-to-end semiconductor design services, from architectural design and physical implementation to managing the manufacturing and shipping of fully packaged and tested semiconductor devices.
At the end of June, the company had 49 patents issued and five patents pending in the United States and five patents issued and 13 patents pending in China.
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The global customer base included over 200 customers in 2013. Since 2009, more than a billion chips have been manufactured and over 700 million chips have been shipped. In the past two years, over 98% of the designs for these products were qualified in accordance with the customer’s specifications.
At the end of June the company had 453 employees, with approximately 70% of employees dedicated to research, development and custom silicon design. Also more than 70% of the employees based in Shanghai, China. VeriSilicon was founded in 2001 and its headquarters are located in Shanghai. The company operates six research and development centers and nine sales centers located in Asia, North America and Europe.
VeriSilicon generated $127.4 million in revenue for 2013 and $77.0 million in the six months ending in June. The revenue for 2013 grew 71% over 2012, and so far revenue in the six months ending June in grew 32% in the same period from the previous year. The net loss was $28.1 million in 2013 and $26.2 million for the six months ending in June.
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