Klook Withdraws Planned U.S. IPO, Citing Market Conditions

Klook's withdrawal of its U.S. IPO removes the most visible listing candidate among the activities-and-experiences platforms, and signals how cautious the window remains for travel-tech offerings.

Klook has withdrawn its planned U.S. initial public offering and will wait for better market conditions, Skift reported on 19 October 2026. The move follows the company's own statement on its IPO registration earlier in the week.

"Given current market conditions, Klook has decided this is not the right time to proceed with an IPO," a company spokesperson said, adding: "We will continue to evaluate the right time for a listing."

Background

Klook filed to list on the New York Stock Exchange in November 2025, reportedly seeking $300 million to $500 million. The offering was later pushed into 2026. The company has given no new timeline and has not said what conditions would bring it back to public markets.

Strategy unchanged

Klook says its strategy is unchanged and that bookings are on track to exceed 80 million experiences this year. Co-founder and president Eric Gnock Fah told Skift the company does not plan to copy the connected-trip strategies of Booking.com or Expedia. Instead, it treats experiences as the starting point for other travel spending. Klook has an AI shopping agent in beta and a creator network of more than 30,000 people across 88 markets.

Numbers from its filing

For the nine months ending September 2025:

• Revenue rose 43% to $407.4 million.
• Gross transaction value rose 31% to $2.3 billion.
• Adjusted EBITDA turned positive at $6.3 million, up from a $20 million loss.
• Net loss widened to $141.5 million from $85.7 million.

Market context

Skift Research estimates Klook's 2024 gross bookings of $2.5 billion at about 0.8% of the global experiences market, against about 1.3% for Viator at $4.2 billion. Only 34% of experience bookings were made online in 2024. Asia Pacific generated nearly 87% of Klook's gross transaction value in 2024, while the share from outside the region rose to 13% from 5% in 2022.