SmartNews Said to Plan December Tokyo IPO as Valuation Craters

SmartNews Inc. is planning a December IPO in Tokyo at a fraction of its previous valuation, according to people familiar with the matter. The news aggregator's business has been decimated by artificial intelligence.

• SmartNews plans a December IPO in Tokyo
• Valuation will be a fraction of its previous level
• The aggregator's business has been hit by AI