Klook has withdrawn its planned U.S. initial public offering, citing unfavorable market conditions for the decision. The Hong Kong-based travel experiences platform had filed to list on the New York Stock Exchange in November 2025, seeking to raise between $300 million and $500 million.
“Given current market conditions, Klook has decided this is not the right time to proceed with an IPO,” a company spokesperson said. The spokesperson added that Klook would continue to evaluate the right time for a listing, leaving the door open to a future attempt without setting a timeline.
Klook US IPO Withdrawal: What Led To The Decision
The offering had already been delayed once from its original timing, pushed into 2026 as Klook and its bankers waited for stronger investor appetite toward travel technology stocks. That appetite apparently never materialized enough to move forward, based on the company’s stated reasoning for pulling the filing.
The decision comes despite improving financial results. Klook‘s revenue rose 43% year over year to $407.4 million for the nine months ending in September 2025, while gross transaction value climbed 31% to $2.3 billion. Adjusted EBITDA turned positive at $6.3 million, a reversal from a $20 million loss in the prior period.
Klook’s net loss widened during the same stretch, growing to $141.5 million from $85.7 million. The combination of rising revenue and a wider net loss illustrates the uneven financial picture that can accompany a company scaling quickly while still working toward full profitability.
What It Means For Klook And Customers
For travelers who use Klook to book tours, attractions and activities, the withdrawal changes nothing about day-to-day service. The company remains privately held and operational, with no indication that bookings, pricing or availability will shift as a result of the IPO pullback.
Klook is leaning on technology to grow its offerings rather than an immediate public listing. The company is developing an AI shopping agent currently in beta and maintains a creator network of more than 30,000 people spread across 88 markets. Those tools are aimed at expanding how travelers discover and book experiences through the platform.
Eric Gnock Fah, Klook’s co-founder and president, has positioned the company’s strategy as distinct from larger rivals. Klook “does not intend to copy the connected-trip strategies of Booking.com or Expedia, and is instead treating experiences as the starting point for adjacent travel spending,” according to the company.
Context: Klook’s Position In The Experiences Market
Klook held roughly 0.8% of the global experiences market in 2024, with gross bookings of $2.5 billion, according to Skift Research analysis. Rival Viator controlled a larger share at about 1.3%, with $4.2 billion in gross bookings over the same period.
The broader market still has significant room to grow online. Only 34% of travel experiences bookings were made online in 2024, suggesting most of the sector still runs through offline channels like in-person ticket counters and local operators.
Klook’s business remains heavily concentrated in one region. Asia Pacific generated nearly 87% of the company’s gross transaction value in 2024. International bookings outside that core region have been climbing, though, rising to 13% of gross transaction value in 2022 to that level from 5% previously. Klook had projected bookings would exceed 80 million experiences for the year.
What’s Next
Klook has not set a new timeline for returning to the public markets. The spokesperson’s statement indicates the company will keep monitoring conditions before attempting another listing, according to Skift. Until then, Klook continues operating as a private company while building out its AI shopping tools and expanding its creator network beyond its core Asia Pacific markets.
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