The video streamer said the federal agency also requested documents related to acquisitions and investments identified in a Wolfpack Research report dating back to April.
Wolfpack claimed at the time that iQiyi user numbers had fudged since its first public offering in 2018. In 2019 alone, it inflated revenue by a maximum of $ 1.8 billion, according to research firm Muddy Waters Research. “Data-reactid =” 22 “>
Why It Matters: Wolfpack claimed at the time that iQiyi user numbers had fudged since its initial public offering in 2018. In 2019 alone, revenue inflated by a maximum of $ 1.8 billion, according to research firm Muddy Waters Research.
The streaming platform’s membership revenue grew 19% year-on-year in the last four years, while advertising revenue fell 28%.
Related
