Why Alibaba’s Singles Day is a meaningless shopping event


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.

Warburg Pincus invests $181m in Hong Kong’s Weave Co-Living

Warburg also has the option to upsize its investment in Weave to up to $413.5 million in the future.

Burger King operator in China TFI TAB cancels $200m US IPO

The move came about nine months after the company postponed its planned IPO in New York in February following volatile trading on Wall Street.

In record haul, Alibaba Singles’ Day rakes in $30b in online sales

Singles’ Day, or Double 11, is the world’s biggest online sales event, outstripping the sales of U.S. shopping holidays Black Friday and Cyber Monday combined.

CPPIB eyes Chinese assets as trade tensions with US hit valuations

CPPIB, one of the world’s biggest investors in real estate and infrastructure, has 8% of its funds invested in China and has said it expects to increase that number significantly in the next few years.

China: Auto marketplace TuanChe scales back US IPO target to $34m

Its existing investors – Honour Depot Limited, BAI GmbH, and K2 Partners II LP – have committed to purchase a total of $15 million ADS in the IPO.

Ant Financial seals UEFA partnership to make inroads into Europe

Ant’s Alipay will provide online payments and other financial services to Europe’s governing body for soccer till 2026, encompassing an estimated 420 matches watched by billions.

China Digest: Tsinghua fund backs robot maker Trifo; Ant Financial invests in Shuwei

According to a company statement, Trifo will use the proceeds to build the next generation of smart home robots. 

Alibaba to cast its net beyond borders to set new Singles’ Day record

This Sunday, the Chinese internet giant is including sales from Lazada, the online shopping mall it controls.

China: Xiang He Capital invests in GGV-backed medical AI startup Synyi

Synyi develops big data-driven application for medical research, healthcare, and patient services.