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China appears to be pursuing a calculated effort to recruit recently laid-off U.S. In March, advertisements offering full-cycle support for relocation to Shenzhen were placed on LinkedIn, Craigslist, and in several major international publications. I was alerted to one such newspaper ad through a friend in the city.)
Further confirmation that the esports market is booming amid the pandemic comes today with the news that esports “total solutions provider” VSPN (Versus Programming Network) has raised what it describes as “close to” $100 million in a Series B funding round, led by Tencent Holdings.
Photo by Visual China Group via Getty Images/Visual China Group via Getty Images. US Senator Marco Rubio (R-FL) has threatened the government funding of chipmaker Intel after the company made what Rubio described as “humiliating apologies” to China.
Gogoro is going public. Assuming no redemptions, Gogoro anticipates making $550 million in proceeds, including an oversubscribed PIPE (private investment in public equity) of over $250 million and $345 million held in trust by Poema Global. Gogoro’s SPAC deal comes a few months after it announced major partnerships in China and India.
are increasingly going global, but recent regulatory crackdowns in China , which instructed local K-12 tutoring startups to go nonprofit, have led to a chill among check-writers looking at the country. based investors often cited China as validation of the opportunity for direct-to-consumer businesses in the K-12 world.
Megvii, one of China’s largest facial recognition startups, is gearing up for an initial public offering in Shanghai. The company is working with CITIC Securities to prepare for its planned listing, according to an announcement posted by the China Securities Regulatory Commission on Tuesday. China tech competition.
Last week we said that you needed to pay attention to the public markets, and we weren’t kidding. Given China’s economic woes, cutting off that particular liquidity pipe might be risky. From there we went to Clearco layoffs , UiPath buying Re:infer and Oui’s first close of its new fund. The key gist?
billion in its latest funding round, two years after it hauled in $1.9 ’s venture capital fund CapitalG. The news came fresh off a Wall Street Journal report two weeks ago that Manbang was seeking $1 billion ahead of an initial public offering next year. billion from investors including SoftBank Group and Alphabet Inc.’s
A startup based out of San Diego and Taipei is quietly nailing fundings and deals from some of the biggest names in electronics. Amongst its other prominent investors are Alibaba Entrepreneurship Fund, Sequoia Capital, Qualcomm and SparkLabs Taipei. Like the Chinese AI upstarts, Kneron is weighing an initial public offering.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and me here. Ever wake up to just a massive wall of news?
The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction equity value of $11.75 The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction equity value of $11.75
The latest spate of bad news for China’s technology industry follows a raft of regulatory changes and actions by the nation’s government that have deleted an enormous quantity of equity value. Uncertain regulations, per Reuters. The Exchange explores startups, markets and money. The effort doesn’t appear to have worked.
Faraday Future expects to be able to finish building out its factory in Hanford, California with the new funds and launch its FF91 luxury SUV “within 12 months” of the finalization of the merger, which is expected to happen in the second quarter of this year. Photo by Sean O’Kane / The Verge.
IPO is one of several key moments of the recent regulatory shift inside China regarding its leading technology companies. Bloomberg reports that China is considering removing the VIE loophole that allowed Chinese companies to list in the United States, closing a method by which local companies could access foreign capital.
Quanergy Systems, the Sunnyvale, California-based lidar company, said Tuesday it has agreed to merge with special purpose acquisition fund CITIC Capital Acquisition Corp., The news shot the company to unicorn status and incited talks of a potential initial public offering, Bloomberg reported. The SPAC, CITIC Capital Acquisition Corp.,
As financial troubles escalate at Danke, China’s authorities are stepping in to hold the once-promising apartment rental and sharing company accountable. With capital funded by the loans, Danke then pays the homeowners — but only on a monthly or quarterly basis. when it went public in January.
Einride is seeking $75 million in new financing, while at the same time exploring the potential for a public listing through a special purpose acquisition company, according to people with knowledge of the company’s plans. based EV companies that have gone public via a SPAC in the past year.
The recently public company traded as high as $18.01 ” Didi said that the change in its app availability “may have an adverse impact on its revenue in China.” ” Didi said that the change in its app availability “may have an adverse impact on its revenue in China.” As CNBC reported :
TechCrunch noted a week ago that private markets appeared strongly bullish on future startup value creation, while public markets were drifting lower, repricing possible exit values for today’s upstart companies. The was, it seemed, a rising gap between the level of bullishness in the private and public markets.
a joint venture between Toyota China and GAC, a Chinese state-owned automaker. The few that remain — a small group of well-funded companies that are either publicly traded or owned by large corporations — are starting to scale up commercial operations, albeit slower than perhaps originally forecast.
AutoX, a four-year-old startup backed by Alibaba, MediaTek and Shanghai Motors, is deploying a fleet of 25 unmanned vehicles in downtown Shenzhen, marking the first time any autonomous driving car in China tests on public roads without safety drivers or remote operators. in Shenzhen, Pony.ai
is a facial recognition company with deep ties to Chinese police surveillance, and funding from US-based Sequoia Capital. DeepGlint co-founded a facial recognition lab in 2018 with Chinese authorities in Urumqi, the capital of Xinjiang, according to the South China Morning Post.
But as SoftBank continues to cut checks from its Vision Fund 2, we’re still seeing results trickle in from the time when the Japanese conglomerate was the world’s key startup backer thanks to its megasized Vision Fund 1. SoftBank’s Vision Fund 1 was, of course, also an investor in Uber. It’s complicated.
This is an interesting day when we see two of China’s major robotaxi foes come together, offering a clue to how the industry is evolving in the country. As autonomous driving technology and regulations advance rapidly in China, ride-hailing platforms start looking for solutions to cut labor costs.
Over the past several years, institutional investors had largely shied away from China’s e-cigarette makers, an industry that was teeming with shoddy workshops and lacked regulatory oversight. But investors’ attitude is changing as China sets in motion its strictest-ever regulation on electronic cigarettes.
billion ($386 million) cash infusion from two investment firms controlled by the local governments of eastern Chinas Anhui province and its capital city Hefei, where the Chinese electric vehicle maker operates its manufacturing plants, according to public information. a China-based subsidiary of Nio Inc., increased from RMB 16.4
The latest funding brings its total raised to approximately $761 million and values the company at $3.3 The company plans to file an IPO application early next year, aiming to go public in the first half of 2022. . billion. . Kurly expects its estimated company valuation after the listing up to approximately $5.8 valuation .
Only four months after securing Series B fundraising of $310 million, Chinese autonomous driving company WeRide says it has achieved its Series C funding round that brings its post-money valuation to $3 billion. The company is also using the funds to prepare to commercialize its technology.
The result of the government fusillade against some of the best-known companies in China was falling share prices. The damage topped $1 trillion among just public Chinese companies listed abroad. If their public comps are any indication, even more wealth was deleted in the recent wave of crackdowns. Before the shakeup.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. Toast is going public ! And new rules on online lending in China. Funding Rounds: Gophr raises money !
Canoo has since become a publicly traded company after merging with a blank check fund that was listed on the NASDAQ in late 2020. Canoo met with companies and investors across Silicon Valley and China before going public. Canoo eventually started negotiations with the blank check fund, Hennessy Capital Acquisition Corp.
billion following a fresh injection of $267 million in funding. The round was led by TIP, an innovation fund within the Ontario Teachers’ Pension Plan Board that focuses on late-stage venture and growth equity investments in companies that deliver disruptive technology. The BotRide pilot concluded in January 2020. In April, Pony.ai
million venture fund called Tiger Private Investment Partners XIV that it expects to close in March. The fund is Tiger’s 13th venture fund, despite its title — the partners might be superstitious — and it comes hot on the heels of the firm’s 12th venture fund, closed exactly a year ago, also with $3.75
Global investors are running from Chinese tech stocks in the wake of the government’s crackdown on Ant Group and Alibaba, two high-flying businesses founded by Ma Yun (Jack Ma) that were once hailed as paragons of China’s new tech elite. China postpones Ant’s colossal IPO after closed-door talk with Jack Ma.
In venture capital’s ideal world, more would be losing their unicorn status by going public. But that just hasn’t happened as often as needed to balance the unicorn birth rate that investors have funded. With 91 public exits last quarter, Asia had more IPOs than any other region during the period.
The China Integrated Circuit Industry Investment Fund Phase III Co., referred to as the Phase III Fund) was registered on May 24, with a capital of RMB 344 billion ($47.5 billion), according to the National Enterprise Credit Information Publicity. Icsmart, in Chinese ]
Strong Funding Secured angel-round investment with a valuation of over RMB 10 million (or equivalent). About Wteam Wteam is one of the few non-profit organizations in China that focuses on super-early-stage college student entrepreneurs. Steady Revenue Annual revenue exceeding RMB 1 million (or equivalent). Nominate Now!
Clothing, electronics, toys, automobiles, musical instruments, furniture — you name it and you’ll find a manufacturer in China who can turn your intangible concept into mass-manufacturable reality in mere days. China is also home to one of the world’s largest e-commerce and tech ecosystems. What’s different about Chinese D2C?
And there is still venture capital money flowing in China despite, you know, all the stuff going on there. Recall that we have seen the major slowdown in hiring lately, perhaps a harbinger of the (meager) feast to come? Cartona is building something neat in Egypt , TechCrunch reports.
As of 2019, 81% of all venture capital funds worldwide are clustered in just a handful of countries, primarily in the U.S., Europe and China, which in turn are shaping the future of technology. Despite gains, gender diversity in VC funding struggled in 2020.
Shares of Chinese ride-hailing provider Didi are sharply lower this morning after news broke that its domestic regulators are investigating the newly public company. The move comes amid a larger reset of relations between China’s burgeoning technology sector and its autocratic government. And there is effort inside the U.S.
How to win consulting, board and deal roles with PE and VC funds. We propose that governments should systematically support funding for their diaspora founders, not just founders locally. There are three main players in any tech ecosystem: The first are founders who want to build companies and need funding.
Tesla is getting ready to introduce a long rumored lower-cost, longer-lasting battery for its electric vehicles in China sometime later this year or early next year, according to a new report from Reuters. The group has been funded by Tesla since 2016 , according to Reuters. Photo by Sean O’Kane/The Verge.
India, which has doubled its pool of unicorns to over 100 in the past two years, has attracted over $75 billion in investments from tech giants Google, Meta and Amazon and venture funds Sequoia, Tiger Global, SoftBank, Alpha Wave, Lightspeed and Accel in the past half decade. Swaroop’s presentation from 2014. Image credits: Accel).
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