The company behind one of the most popular iOS apps on the App Store, Chirp, has raised $1 billion in a $1,5 billion public offering.
Chirping, which lets you play music from your iPhone or iPad, has been downloaded more than 5 million times and has been praised by Apple for its ease of use and ease of access to music.
It has also been cited as one of many reasons why iOS is becoming more popular.
ChirsP, a subsidiary of Chinese software giant Xi, was founded in January 2014.
In the past two years, it has raised more than $1 million in Series A and Series B funding rounds, which are typically rounds of funding where investors pay a premium to be a part of the company.
The company had previously raised $300 million from investors including Qualcomm Ventures and Google Ventures, according to its website.
The IPO announcement came just weeks after Chirps CEO David Huang gave an interview to The Wall Street Journal that discussed the success of the app.
Huang told the Journal that Chirpts app is now downloaded more times than Spotify, Google Play Music, and Pandora.
He said that Chirsp has been able to generate revenue by making its own music streaming services and also by selling subscriptions.
The CEO added that ChirisP’s “computational model has been adopted by many other companies in the industry.”
The company also announced that it has now reached a $5.5 million funding round led by First Round Capital, which also raised $600 million in a funding round last year.
The initial public offering will be conducted through the U.S. New York Stock Exchange (NYSE).
The company has raised money through several rounds, including $800 million in January 2016.
It had also raised a $150 million round in 2015, according a blog post that was published on the company’s website.
Chirisp will be led by David Huang, who previously worked as a senior director at Apple.
The startup was founded by David and his brother, Huang Wei, who launched the app with a pair of friends.
The app was originally called Chirped but it was later renamed after a character from a song by Chinese pop singer Chirpy.