Chinese video streaming service iQiyi – frequently called China’s Netflix – has filed to be listed on the US stock market.

Claimed by online mammoth Baidu, it intends to raise $1.5bn (£1.1bn) through a first sale of stock on the Nasdaq.

iQiYi had in excess of 50 million endorsers before the finish of 2017 and a normal of in excess of 420 million versatile clients for every month, as per Reuters.

Be that as it may, while incomes have ascended as of late, iQiyi has never posted a benefit since it propelled in 2010.

In China, it contends with kindred spilling stages Youku Tudou, which is claimed by Alibaba, and Tencent Video.

In April 2017, iQiyi consented to a permitting arrangement with Netflix to steam a portion of the US supplier’s unique substance including Stranger Things and Black Mirror.

iQiyi posted a net loss of 3.7bn yuan (£425m; $592m) for 2017 contrasted and 3.1bn yuan the earlier year, however income bounced by 55% to 17.4bn yuan.

Baidu, which established the business as Qiyi before later changing its name to iQiyi, is itself recorded in the US.