Lulu Yilun Chen
The search giant could fare worse than rivals Alibaba and Tencent because of its higher reliance on the advertising market, an increasingly competitive arena that tends to suffer with economic weakness.
WeDoctor is weighing a listing of at least part of its cloud-services arm amid a broader restructuring.
It has increased its stake in the CICC from roughly 5% earlier to about 11.7%, almost matching Tencent Holdings’ 12% stake.
From allowing companies to hold super-voting rights to letting key shareholders buy stock in IPOs, tech companies are lobbying the Hong Kong exchange for changes or waivers that would help their businesses.
Despite the cutbacks, Didi intends to add 2,500 people to focus on areas from its international expansion to safety and product engineering.
The deal marks Ant’s biggest overseas deal since its bid to acquire US-based MoneyGram was thwarted last year.
The HK-based VC, whose latest bets include SenseTime and Grab, will stick to later-stage investments.
Its resounding beat stemmed in part from a $3.3 billion accounting gain after revaluing a subsidiary, and executives warned of uncertainty during a deceleration of the world’s second largest economy.
Founder Allen Zhang laid out a vision for how the platform used by a billion people should evolve: by emulating real life and social circles.
Megvii is competing with the world’s largest AI startup SenseTime (both are Alibaba-backed) that itself is said to be in discussions to raise about $2 billion.