Shortly after publication, Steve Hill, president of the Las Vegas Convention and Visitors Authority (LVCVA), tweeted that a Loop test this week, with a few hundred participants, had demonstrated its planned 4,400 passenger per hour capacity, which could release $13 million in construction funds currently being held back. The IPO about six months since the company raised $1.7 billion in a funding round that included backing from SoftBank Vision Fund, Sequoia Capital China, Permira, Fidelity, Hillhouse Capital, GGV Capital, Lightspeed China Partners, Tencent and Jack Ma's YF Capital.