On Monday, Alibaba Group Holding Inc stated, sales from its annual Singles’ Day shopping event touched $22.63 billion (158.31 billion yuan ) in the first nine hours, up by 25% from 126.72 billion yuan a year earlier. China celebrates Singles’ Day as a shopping festival much like Black Friday or Cyber Monday. It has grown…
WeWork is trimming its footprint in China and is expanding it in Singapore. On Thursday, Office-sharing startup WeWork stated, it plans on opening two new locations in Singapore later this year. The development comes even as WeWork seeks a $1 billion loan from its biggest-backer Softbank Group Corp in order to progress on its major…
Risk consultants sees U.S. investors quietly exiting from their partnership/commitments with the affected Chinese companies. In a significant development, Goldman Sachs Group Inc has stated, it is in the process of reviewing its involvement in China’s Megvii Technology Ltd’s initial public offering (IPO) following the U.S. Commerce Department placing the artificial intelligence firm on an…
The secondary listing is of strategic importance to Alibaba since it would provide it with fresh funds which it needs to beat its U.S. rivals; technology is a sector where China lacks behind the U.S.; fresh capital infusion is required in the newer sectors it has expanded into such as cloud computing. According to sources…
At IPO prices, Icahn’s 2.7% stake would be $550 million. The price paid by Soros is not clear. According to a report from the Wall Street, billionaire investor Carl Icahn sold his nearly 2.7% of his stake in Lyft Inc to George Soros ahead of its initial public offering. According to the report, Jonathan Christodoro,…
Lyft’s IPO, has set the stage for its much bigger rival, Uber Technologies, whose IPO is slated for launch in April 2019. In a significant development, Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup. Lyft raised more money than it had set off to since…
Lyft’s IPO is on track to be the biggest U.S. technology IPO since Snap Inc’s in 2017. In a significant development, Lyft Inc has kicked off its investor road show ahead of its initial public offering and is chasing a valuation of up to $23 billion as it woos money managers ahead of rival Uber…
Uber has added half a dozen investment banks, including Bank of America Corp, Citigroup Inc, Barclays Plc, Deutsche Bank AG, Allen & Company, and JMP Securities, to its IPO underwriting lineup. According to sources familiar with the matter at hand, Uber Technologies Inc has hired a string of investment banks to its syndicate as its…
DealWatch’s report, citing anonymous sources, have named Nomura Holdings, SMBC Nikko Securities, JP Morgan, Goldman Sachs, Deutsche Bank, among the global coordinators for whats is likely to be Japan’s biggest ever IPO on November 12. According to a report from DealWatch, citing unnamed sources, SoftBank Group Corp’s mobile unit is expected to win an approval…
While in July Dell had stated it would come back with an IPO, acquiring VMWare’s tracking stock is a competing priority. In a significant development, Dell Technologies Inc has confirmed that it has met with a few investment banks to explore an initial public offering (IPO); this plan will kick in only if its plan…
