Tuya Inc.

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Tuya Inc.
Native name
杭州涂鸦科技有限公司
Company typePublic
FoundedJune 16, 2014; 9 years ago (2014-06-16) in Hangzhou, China
FounderXueji (Jerry) Wan
Area served
Worldwide
Revenue
  • Increase US$302 million[1] (2021)
  • US$180 million[1] (2020)
Websitetuya.com

Tuya Inc. (Chinese: 涂鸦智能; lit. 'Graffiti Intelligence'; dba Tuya Smart) is a Chinese artificial intelligence and Internet of things (IoT) platform as a service (PaaS) provider founded in 2014.

Company[edit]

The company provides a cloud development and management platform to developers, brands, and OEMs to program, manage, and monetize smart home and IoT devices.[2]

Tuya is supported by New Enterprise Associates and Tencent. In March 2021 it raised $915 million in the U.S. initial public offering and trades on the NYSE.[3] It launched a global offering on the Hong Kong Stock Exchange in July 2022,[4] giving itself dual primary listings in Hong Kong and New York.[5] Tuya was incorporated in the Cayman Islands.[1]

Internationally, Tuya partners with companies including Schneider Electric, Lenovo, and Philips.[6] It is a member on the board of directors of the Connectivity Standards Alliance[7] and has committed to supporting the Matter connectivity standard.[8][9]

Media reports[edit]

In 2024, Tuya Smart (NYSE: TUYA, HKEX: 2391), a leading global cloud platform service provider, today announced it has formally joined the United Nations Global Compact (UNGC), pledging to uphold the UNGC's "Ten Principles" on human rights, labor, environment, and anti-corruption."[10]

Recently, Tuya Smart shared its extensive cybersecurity approaches at a high-level cyber norms forum hosted by the Research Center for Global Cyberspace Governance (RCGCG) with the aim of securing rapidly advancing tech frontiers in Washington D.C. With the theme "Cyber Norms: Legal, Policy & Industry Perspectives", the event assembled a team of cyberspace and international relations experts from institutions, organizations and companies such as Massachusetts Institute of Technology, U.S.-China Business Council, Center for Humanitarian Dialogue, Hathaway Global Strategies LLC and Tuya Smart. The attendees discussed the current cybersecurity landscape, norms for emerging technologies and how the private sector can best combat cyber risks. Tuya’s practice-sharing has been recognized and affirmed by attending industry organizations and experts.

Tuya Smart was invited and participated in the China-Europe Cyber Norms Forum, co-hosted by the Research Center for Global Cyberspace Governance (RCGCG) and the Cyber Security Governance of Leiden University in the Hague, Netherlands, on March 20, 2024. The forum brought together experts and professionals from the European Institute for Security Studies, the Cyber Security Governance of Leiden University, DigiChina, Bonn University, and TÜV SÜD. Representatives from prominent EU programs, such as the EU Cyber Direct-EU Cyber Diplomacy Initiative project and The Hague Programme on International Cyber Security, were also in attendance to collectively explore the latest developments and emerging trends in cybersecurity."[11][12][13]

In 2021, multiple media outlets reported an investigation by cybersecurity firm Dark Cubed, suggesting that Tuya's network-connected devices are subject to China's Data Security Law, and "are woefully insecure and sending data to China."[14][15]

References[edit]

  1. ^ a b c "Annual and Transition Report (foreign private issuer) for the fiscal year ended December 31, 2021," (PDF). Tuya Inc. Retrieved 2022-07-12.
  2. ^ Chen, Qin (2022-07-05). "Tuya launches Hong Kong IPO and prepares for growth overseas". TechNode. Retrieved 2022-07-12.
  3. ^ Fioretti, Julia (2021-03-17). "China's Tuya Is Poised to Raise $915 Million in U.S. IPO". Bloomberg. Retrieved 2022-03-05.
  4. ^ "Tuya Smart made its dual listing on Hong Kong Stock Exchange". LegalOne. 2023-08-28. Retrieved 2023-08-28.
  5. ^ "IoT Platform Firm Tuya Completes Hong Kong IPO". Pandaily. 2022-07-05. Retrieved 2022-07-12.
  6. ^ "IoT Cloud Platform Tuya Smart to Debut on Hong Kong". Pandaily. 2022-06-22. Retrieved 2022-07-12.
  7. ^ "Tuya Joins the Alliance Board of Directors". CSA-IOT. 2020-06-23. Retrieved 2022-07-12.
  8. ^ "Tuya Now Supports Matter Smart Home Standard". CEPRO. 2022-01-12. Retrieved 2022-07-12.
  9. ^ "Tuya Smart app instructions". thefantasyninjas. 2022-01-12. Retrieved 2022-07-12.
  10. ^ "Tuya Smart Officially Joins the United Nations Global Compact". KTLA5. 2024-05-28. Retrieved 2024-05-28.
  11. ^ "Tuya Smart Shares Front-line Insights to Advance Discussions on Cyber Norms in Europe". Financial Times. 2024-05-28. Retrieved 2024-03-21.
  12. ^ "Tuya Smart Shares Cybersecurity Insights at European Cyber Norms Forum". Bit Perfect. 2024-05-28. Retrieved 2024-03-21.
  13. ^ "Tuya Smart Shares Front-line Insights to Advance Discussions on Cyber Norms in Europe". Finanzen. 2024-05-28. Retrieved 2024-03-21.
  14. ^ Brands, Hal; Kitchen, Klon (2021-07-30). "Tuya may be the China threat that beats Russia's ransomware attacks". The Hill. Retrieved 2024-01-01.
  15. ^ "Cybersecurity Experts Worried by Chinese Firm's Control of Smart Devices". Voice of America. 2021-08-21. Retrieved 2024-01-01.

External links[edit]

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