Search Results for:Shelly Banjo

Alibaba shores up ammo against IPO-bound rival Meituan with $3b funding

Alibaba raised the funding in a SoftBank-led round for the local services entity created after the merger of its and Koubei units.

CEOs of IPO-bound Chinese startups are starting to get billion-dollar bonuses

Pinduoduo CEO received at least $1 billion of stock as his e-commerce company prepares for a U.S. IPO while Lei Jun, head of Xiaomi, saw a $1.5 billion payday.

Airbnb charts solo path in China after turning down merger offer

Last year, the founders of Airbnb Inc. made a last minute decision to pull out of negotiations for merging their China business with local competitor Tujia.

Xiaomi IPO set to make millionaires of 56 early employees

Eight years ago, before China’s Xiaomi Corp. had sold a single smartphone, 56 of the earliest employees pulled together $11 million to invest in the startup. Rank-and-file workers dipped into savings and borrowed from parents. One receptionist tapped her dowry.

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.

Indonesian unicorn Go-Jek CEO says aiming for IPO in next few years

Go-Jek will make the expansion of its digital-payment service Go-Pay in 2018 a top priority.

China Fosun finds secret sauce to make foreign deals palatable

With IPOs planned for six companies in the portfolio, more cash is on the way.

The rise and rise of Jack Ma’s Alibaba

Its $23b revenue for the last fiscal year was over 10 times the 2011 figure.

China Fosun is looking for beauty in all the wrong places

The conglomerate has joined the $900 million auction for The Body Shop.