MiniMax Group Inc. (Xiyu Technology) is a Shanghai-based AI foundation-model company founded in 2021 by SenseTime computer-vision researchers Yan Junjie, Yang Bin and Zhou Yucong. It develops proprietary multimodal large language models (MiniMax M-series), plus video (Hailuo AI), speech and music models, and AI-native consumer and enterprise products including MiniMax Agent, MiniMax Audio, and the character-chat app Talkie. Its models and products serve over 236 million individual users and 214,000+ enterprises and developers worldwide. Backed by Alibaba, Tencent, Hillhouse, HongShan and IDG, MiniMax listed on the Hong Kong Stock Exchange (SEHK: 100) in January 2026.
MiniMax is publicly traded
IPO'd on Jan 9, 2026
This company is no longer available on our private secondary market. Shares can be traded publicly under 00100.HK.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2021
Employees
501–1,000
Total Funding
$1.49B
7 rounds
Last Private Valuation
$4B
Jul 2025
Reportedly raising ~$2B via ~35.6M new HK shares at HK$268 plus HK$6.5B convertible bond, following January HK IPO
Now listed; new supply and converts may pressure HK share price
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $1.49B across 7 rounds
Last updated 10-06-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Jul 2025 | Series B extension | $390M | $4B | Shanghai STVC Group |
| Jun 2025 | Pre-B+ | $123M | — | Not disclosed |
| Mar 5, 2024 | Series B | $600M | $2.5B | Alibaba Group |
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Entry · Angel / Seed
$200M
Dec 2021
MiniMax today
$4B
Jul 2025 · latest mark
MiniMax multiple
20.0x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Yan Junjie
Founder, Chairman, CEO & CTO
Yang Bin
Co-Founder
Zhou Yucong
Co-Founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
OpenAI
US-based leader in foundation models and ChatGPT; primary global competitor
Anthropic
US-based foundation model company behind Claude; direct technical competitor
DeepSeek
Chinese AI startup; competitor in cost-efficient foundation models
Moonshot AI
Chinese AI company behind Kimi; competitor in reasoning and multilingual models
Zhipu AI
Chinese foundation model company; part of the Six Tigers elite group
StepFun
Chinese AI company with trillion-parameter Step-2 model; competitor in scale
Yes, MiniMax is publicly traded under the ticker symbol 00100.HK on the HKEX. The company went public in Jan 9, 2026.
MiniMax trades under the ticker symbol 00100.HK on the HKEX. It began trading in Jan 9, 2026.
MiniMax (00100.HK on the HKEX) shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker 00100.HK to place an order.
MiniMax went public in Jan 9, 2026 via ipo, with an offering valuation of approximately $4B. MiniMax has been publicly traded on the Hong Kong Stock Exchange (stock code 0100) since 9 January 2026, when it priced its global offering at HK$165 per share — the top of the HK$151–165 range — raising roughly US$619 million with 14 cornerstone investors including Alibaba, the Abu Dhabi Investment Authority, Aspex, Boyu, Eastspring and Mirae Asset. The shares roughly doubled on debut and ran to about 400% above the offer price by late May 2026 before retreating sharply. On 29 May 2026 the company filed an A-share listing guidance report with the Shanghai bureau of the CSRC, with CITIC Securities as sponsor, working toward a dual A+H listing on the STAR Market. In July 2026 it raised about HK$16 billion (~US$2 billion) in the secondary market — 35.6 million new Class A shares placed at HK$268 for gross proceeds of ~HK$9.54 billion, plus HK$6.5 billion of zero-coupon guaranteed convertible bonds due 2027 — with the bond tranche completed on 16 July 2026 and 80% of proceeds earmarked for AI infrastructure and model research.
MiniMax raised $1.49B across 7 disclosed funding rounds prior to its public listing.
MiniMax was co-founded by Yan Junjie, Yang Bin, and Zhou Yucong in 2021.
MiniMax is headquartered in Shanghai, China.
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