HTX Acquisition, Valuation, Funding & Investors
HTX was acquired by About Capital Management for $1B in October 2022.
HTX acquisition price
$1B
Acquired by About Capital Management · Oct 2022
Cumulative funding HTX raised
$2M
across 2 funding rounds
Key investors in HTX
ZhenFund
Node Capital
About HTX
HTX is a Seychelles-headquartered cryptocurrency exchange platform launched in 2013 as Huobi. It offers spot trading, futures contracts, margin trading, staking, and over-the-counter services for more than 800 digital assets including Bitcoin and Ethereum. The platform processes over $3 billion in daily trading volume and serves 10 million users worldwide through its exchange, wallet, and custody solutions.
Founded
2013
HQ
BeijingWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Commission
Valuation
$5M (Mar 2014)
HTX Acquisition
HTX was acquired by About Capital Management for $1B on 7 October 2022.
Before the acquisition HTX had raised $2M across 2 funding rounds.
HTX, formerly known as Huobi, is a major global cryptocurrency exchange that was the second largest after Binance and the largest Chinese exchange, serving over 20 million users with compliance licenses in the US, Hong Kong, South Korea, and Japan. About Capital Management, a secretive Hong Kong-based asset management firm founded by Chen Yihua in 2008, acquired control through its M&A funds, primarily purchasing the stake from founder Li Lin while some minority shareholders remained. A rumor of $3 billion valuation circulated but lacks confirmation. The deal followed earlier acquisition rumors involving FTX/SBF and Binance, with a Hong Kong buyer deemed more suitable amid regulatory and political factors. Huobi had rebranded elements to HTX prior to the deal, changing employee emails in August 2022. The Hong Kong-listed Huobi Technology's sale status was unconfirmed at the time.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 7 Oct 2022 | PE buyout | $1B |
HTX Valuation
HTX is currently valued at $5M, based on its Series A in March 2014.
The $1M round included ZhenFund.
HTX valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2014 | Series A | $5M |
HTX Funding History
HTX has raised a total of $2M across 2 funding rounds.
HTX's first fundraising round was a $1M Series A in March 2014. The most recent completed round was a $1M ico round in November 2017.
HTX funding rounds
| Date | Stage | Investors | Raised | Valuation |
|---|---|---|---|---|
| Nov 2017 | ICO | Node Capital | $1M | - |
| Mar 2014 | Series A | ZhenFund | $1M | $5M |
Who has invested in HTX?
2 investors have backed HTX across its funding rounds, including ZhenFund and Node Capital.
HTX Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialAcquisitions by HTX
HTX has acquired 2 companies to date.
Last acquisition by HTX was on May 26th 2022. HTX acquired Bitex for undisclosed valuation.
Latest Acquisitions by HTX
| Description | Bitex.la is a Buenos Aires-headquartered cryptocurrency exchange launched in 2014, supporting Bitcoin, Litecoin, and stablecoins for users in Latin America and Spain. It facilitates fiat on-ramps via bank transfers in 10 currencies, serving 50,000 non-banked customers with zero-fee withdrawals. Bitex integrates with Mercado Pago and complies with Argentine CNV regulations. | Huobi Technology Holdings Limited is a Shenzhen-headquartered electronic manufacturing services provider listed on the Shenzhen Stock Exchange. The company produces switching power supplies, battery chargers, inductors, solenoids, LED drivers, LED lighting fixtures, and optical communication components. Its manufacturing facilities are located in Mainland China, with sales offices and distribution networks spanning Hong Kong, the United Kingdom, the United States, Japan, and various international markets. Huobi Technology serves industries including telecommunications, consumer electronics, automotive, and renewable energy sectors through customized OEM and ODM solutions. |
| HQ Country |  |  |
| HQ City | Amsterdam | Hong Kong |
| Deal Date | 26 May 2022 | 28 Aug 2018 |
| Valuation | undisclosed | $70M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all HTX acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by HTX
HTX has invested in 16 companies to date.
Latest investment by HTX was on January 19th 2023. HTX invested in Hyfen in their $500K Pre-seed round.
Latest Investments by HTX
| Description | Hyfen is a Jakarta-based blockchain gaming platform that integrates crypto wallets, on-ramps, and guild tools for Southeast Asian gamers. The ecosystem features Hyfen Play launcher app, Hyfen Pay for low-fee crypto purchases, and Hyfen Tools for play-to-earn scholarship management, supporting titles like blockchain shooters and RPGs. | ZKX is a Cairo-headquartered decentralized perpetuals exchange built on StarkNet. Launched in 2021, it offers swaps for complex derivatives like options and structured products, alongside modular DAO tools and SDKs powered by zero-knowledge proofs for trading on Ethereum Layer 2. | KYVE is a decentralized network archiving data streams on the Arweave blockchain. Nodes operate as uploaders and validators within pools dedicated to specific datasets like social media or blockchain transactions. KYVE tokens fund pool operations and incentivize data permanence across global participants. | Neptune Mutual is a Singapore-based decentralized insurance protocol on Polygon blockchain that covers smart contract risks and DeFi protocols. It offers parametric policies for hacks, exploits, and downtime, with mutual pools managed via governance tokens for claims assessment. | |
| HQ Country |  |  |  |  | |
| HQ City | Jakarta | Madrid | Munich | Winchester | |
| Deal Date | 19 Jan 2023 | 14 Jul 2022 | 30 Jun 2022 | 11 May 2022 | |
| Round | Pre-seed | Seed | Undisclosed stage | Series A | |
| Raised | $500K | $5M | $9M | $5M | |
| Investors | Xiaomi; AC Capital; IVC | Gate; Crypto.com; AngelDAO; Alameda Research; DWeb3 Capital; Amber Group; Caballeros Capital; CryptoDiscover; Ashwin Ramachandran; HashKey Capital; Cluster Capital | Distributed Global; MEXC Global; DOUBLETOP; Wicklow Capital; Blockchain Coinvestorsqq; Cerulean Ventures; Anagram Media Labs; IOSG Ventures | Gate; BSC Army; Fenbushi Capital; DWeb3 Capital; DuckDAO; Coinbase Ventures; Animoca Brands; Crypto Lark; GBV Capital; GTS Ventures; BitMart | |
| Valuation | undisclosed | undisclosed | $100M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all HTX investments and their VC round multiples. Start Free Trial | |||||
HTX Competitors
HTX competitors include listed companies like HashKey Holdings and OSL Group, and private ones like Andalusia Labs, Axelar Network, Bitfury Group and CoinBridge.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Abu Dhabi | Private | - | - | $1B | - | |
 Waterloo | Private | - | - | $1B | - | |
| Amsterdam | Private | - | - | $1B | - | |
 Herzliya | Private | - | - | $1B | - | |
| Hong Kong | Publicly listed | $92M | ($109M) | $884M | - | |
| Hong Kong | Publicly listed | $62M | ($48M) | $1.2B | 11.3x |
HTX Public Comps
HTX is no longer listed, but its public comps include HashKey Holdings, BitGo Holdings, OSL Group, Indokripto Koin Semesta, Rhino Bitcoin, Securitize, Stewards, Coincheck Group, Bakkt and Chaince Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
| $16M | $7M | 36.9x | - | 81.1x | - | |||
| $478K | ($417K) | 1242.8x | - | (1423.4x) | - | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| - | - | - | - | - | - | |||
| $3.1B | $354K | 0.2x | 0.2x | 1312.3x | (189.0x) | |||
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Common questions about HTX
| When was HTX founded? | HTX was founded in 2013. |
| Where is HTX headquartered? | HTX is headquartered in Beijing, China. |
| Is HTX publicly listed? | No, HTX was acquired by About Capital Management in October 2022. |
| Who acquired HTX? | HTX was acquired by About Capital Management in October 2022. |
| How much was HTX acquired for? | HTX was acquired for $1B in October 2022. |
| What is HTX's valuation? | HTX was last valued at $5M in its Series A in March 2014. |
| How much funding has HTX raised? | HTX has raised $2M across 2 funding rounds. |
| What was HTX's last funding round? | HTX's last funding round was a $1M ico round in November 2017. |
| Who are HTX's investors? | HTX's investors include ZhenFund and Node Capital. |
| Which companies are comparable to HTX? | Companies comparable to HTX include Andalusia Labs, Axelar Network, Bitfury Group, CoinBridge, HashKey Holdings and OSL Group. |
| How many companies has HTX acquired? | HTX has acquired 2 companies, including Bitex and Huobi Technology. |
| What was the largest acquisition by HTX? | The $70M acquisition of Huobi Technology in August 2018 is the largest acquisition HTX has made to date. |
| How many companies has HTX invested in? | HTX has invested in 16 companies, including Hyfen, ZKX, KYVE, Neptune Mutual, Vertex Protocol, Slope Finance, Assembly and Kibo Finance. |
| What was HTX's last investment? | In January 2023, HTX invested in Hyfen's $500K pre-seed round alongside Xiaomi, AC Capital and IVC. |
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