By Tim Culpan
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 also has the option to upsize its investment in Weave to up to $413.5 million in the future.
The move came about nine months after the company postponed its planned IPO in New York in February following volatile trading on Wall Street.
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, 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.
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’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.
According to a company statement, Trifo will use the proceeds to build the next generation of smart home robots.
This Sunday, the Chinese internet giant is including sales from Lazada, the online shopping mall it controls.
Synyi develops big data-driven application for medical research, healthcare, and patient services.