Search Results for:Lulu Yilun Chen

China’s unicorn IPOs look ominous as ghost of past tech debuts set poor benchmarks

Two-thirds of the 21 tech IPOs in the past year are below their issue price, with shares down an average of about 20 per cent through Friday.

Carlyle, CPPIB said to be latest backers of Ant Financial’s $10b funding

Warburg Pincus and Temasek are also joining the round, which would make Ant the world’s largest fintech firm.

Xiaomi to be valued upwards of $60-70b as hype over IPO dies down

The startup’s fluctuating valuation is partly due to mixed messages about what Xiaomi does. While 70% of revenue comes from selling smartphones, co-founder Lei Jun insists that Xiaomi’s real goal is to be an internet services company making money off ads and online games.

Ant Financial’s annual profit soars 65% ahead of anticipated IPO

Ant Financial is in the process of raising at least $10 billion at a $150 billion valuation from investors led by Temasek Holdings Pte.

Jack Ma’s shopping spree weighs heavily on Alibaba investors

Alibaba is projected to post its first decline in profit in a year and a half — the result of folding in major loss-making businesses and heightened spending.

Tencent-backed startup Little Red Book to raise $200m at $2.5b valuation

The women-focused shopping site is seeking to double its valuation since its last round of funding over two years ago.

Tencent-backed fashion retailer Meilishuo seeks IPO at $4b value

Meilishuo, which merged with rival Mogujie in 2016 to form a company with $3 billion in sales, was said to have been valued at $3 billion at the time of that deal.

China’s e-commerce startup Pinduoduo said to raise over $1b from Sequoia, Tencent

The latest round values it at $15 billion.

SoftBank-backed WeWork said to acquire China’s Naked Hub for $400m

WeWork has been on a shopping spree for the past year.

Ant Financial in talks to raise over $10b, Temasek among likely investors

If the deal goes ahead, Ant would be the world’s biggest startup with a valuation of $150 billion.