Sky-mobi, which runs a Chinese mobile app store called Maopao, hopes to raise up to US$150 million through an IPO, according to a Securities and Exchange Commission filing. The company will use the proceeds to expand the app store and market its activities. Maopao offers content such as games, mobile music and books alongside its apps. From 2007 to the end of September 2010, the store had been visited by approximately 479 million cumulative users while offering more than 770 applications and 61,000 content titles. Cumulative downloads over the period reached 3.6 billion. 

Parent Sky Network Technology was set up in 2005 and has backing from US venture firm Sequoia Capital, according to its website. Sky-mobi also runs a mobile social network in China. In addition to China, the company also has app stores in Indonesia, Thailand, Vietnam and Malaysia. Interestingly, its expansion strategy will see it move outside Asia. Its plan is to launch its app store in major markets in the Middle East, Africa and South America during 2011. Key to Sky-mobi’s expansion plans is having its app store pre-loaded on handsets made by Chinese vendors