SoftBank-Backed Kids Clothing Site PatPat Is Said to Weigh IPO

PatPat, a clothing and maternal products online marketplace, is exploring an initial public offering, according to people familiar with the matter.

The SoftBank Vision Fund 2-backed firm has held early discussions with potential advisers, the people said, asking not to be identified as the information isn’t public. A share sale could happen as soon as this year and could raise about $500 million, they said. PatPat could be valued at roughly $3 billion, two of the people said.

The company, doing business as Interfocus Inc., is considering IPO venues including Hong Kong, the people said. It could also choose ...