By cutting its losses, Meituan can now focus on its core battle against ele.me, the delivery service backed by Alibaba Group Holding Ltd.
Sea isn’t alone in cherry-picking numbers and offering them as “adjusted” figures. Ford Motor Co. and Newell Brands Inc. take the same approach.
Alibaba and Tencent may be less interested in gaining a seat on the board of an investment bank than focusing on asset management.
In most Western companies, the chairmanship is a functional position on a board of directors. At Huawei, it’s an honorific title that recognizes seniority and service.
The Singapore-based ride-hailing company had just landed $1 billion in funding from Toyota Motor Corp, and the deal looked a little like vendor financing.
Go-Jek’s entry offers Grab a chance to rethink its approach. It should hold fast on incentives and price both supply and demand according to sound economic principles that ensure some profit for everyone, including itself.
Not only does Xiaomi remove a competitor (albeit a not very threatening one) for next to nothing, it gets to roll out a multibrand smartphone strategy just as it’s seeking broader international appeal.
The figure that grabs all the headlines is gross merchandise value (GMV), which is the world’s most useless financial metric. An examination of the correlation between GMV and revenue shows that there isn’t one.
With so much of the Silicon Valley business model built on hopes (of big funding rounds) and dreams (of massive wealth), all it could take to disrupt the momentum is fear of a funding crunch.
Such a fast decline by two early adopters — Xiaomi and Meituan — doesn’t augur well for Hong Kong’s reputation. It already tried relaxing listing rules when it introduced the Growth Enterprise Market two decades ago.