Tag: alibaba
SoftBank expects $24 billion in losses from Vision Fund, WeWork and OneWeb investments
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The Japanese technology conglomerate SoftBank Group said it would lose a staggering $24 billion on investments met through its Vision Fund and wagers on the co-working real estate company WeWork and satellite telecommunications company OneWeb. Ultimately, the company expects the…
Read MoreAfrica Roundup: Jumias post-IPO earnings, Gokadas $5.3M raise, Facebooks fake-news purge, Joe Montanas fintech investment
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Jumia harboured its first post-IPO earnings call and braved a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value( GMV) — the total amount…
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TikTok parent Bytedance is reportedly working on its own smartphone
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It’s been a busy couple of months for Bytedance, one of the world’s most valuable startups and the operator of globally popular video app TikTok. The Beijing-based company has continued to grow its list of apps to include the likes…
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Security lapse exposed a Chinese smart city surveillance system
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Smart metropolis are designed to construct life easier for their residents: better transaction handling by clearing streets, uttering sure the public transport is running on time and having cameras saving a watchful eye from above. But what happens when that…
Read MoreLightspeed announces new $560 million fund for China
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Global investor Lightspeed is starting 2019 with its largest-ever fund for China, where it has backed a number of brand-new internet challengers. The firm announced the coming week that its fourth China fund has shut with a total fund commitment…
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Chinese Tesla rival Nio trims IPO target: now aims to raise up to $1.5B
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The U.S. IPO window may be wide open for Chinese tech firms, but electrical vehicle manufacturer Nio has conservatively trimmed the target for its NYSE listing to $1.5 billion after it exhausted a price range for its shares. The company…
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