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SoftBank CEO defends Vision Fund chief Rajeev Misra, after losses, controversy
The Vision Fund lost almost $18 billion in the fiscal year ended March 31, as it wrote down the value of investments in WeWork and Uber Technologies Inc., among others.
TikTok distances from Beijing in response to India app ban
TikTok, which is not available in China, is owned by China's ByteDance but has sou...
Some Chinese VCs looking for a quick exit
The venture capital and individual investors exploring exits currently own about 4-5% in Indian com...
Chinese investments in Indian start-ups grow 12 times to USD 4.6 bn in 2019: GlobalData
There has been a 12 times growth of Chinese investments in startups over the past 4 years to $ 4.6 bn in 2019.
Chinese-funded unicorns like Paytm, Ola face users' ire
Most of these mobile applications have seen over the last one week increasing comments and lowest possible ratings from consumers.
Alibaba's Lazada appoints Chun Li as new CEO
Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada co-president and head of its Indonesia operations, the company said in a statement.
SoftBank’s Vision Fund is planning to cut 10% of staff
The Vision Fund has struggled since WeWork botched its efforts to go public last year and SoftBank stepped in to bail the company out.
TikTok parent, ByteDance, hits $3 billion in net profit last year
ByteDance, led by Zhang Yiming, is becoming a viable rival to the dominant American online behemoths, Facebook Inc. and Alphabet Inc. Facebook unit Instagram brought in about $20 billion in advertising revenue in 2019.
TikTok owner is world’s most valuable startup at over $100 billion in private markets
ByteDance's valuation has risen at least a third to more than $100-bn in recent private share transactions.
SoftBank’s Son offers mea culpa after Jesus comment backfires
SoftBank shares reached their highest level in two decades in April 2019, but then plunged by the most on record this March as the coronavirus slammed the company and its startups. Now Son is racing to stabilize his company for the challenges ahead.
China’s got a new plan to overtake the U.S. in tech
In the masterplan backed by President Xi Jinping himself, China will invest an estimated $1.4 trillion over six years to 2025, calling on urban governments and private tech giants like Huawei Technologies Co. to lay fifth generation wireless networks, install cameras and sensors, and develop AI software that will underpin autonomous driving to automated factories and mass surveillance.
Paytm, Zomato, BigBasket, others could run into India’s great FDI wall
Chinese investors have emerged as the biggest backers of the country’s startup economy.
Paytm Mall in talks for Grofers stake as SoftBank pushes for consolidation
Online retailer Paytm Mall has held talks with e-grocer Grofers for a potential investment, multiple people in the know told ET, adding that the ongoing discussions may even lead to a merger.
SoftBank to sell $ 3.1 billion worth of Japan telecom unit stake
The sale of 240 million shares for a yet to be determined price and set to close on May 26 will leave SoftBank Group with a 62.1% stake in Japan's third-largest wireless carrier.
Tencent to invest $70 billion in 'new infrastructure'
The announcement comes after call by Beijing last month for a tech-driven structural upgrade of the world's second-largest economy through investment in "new infrastructure" and a boom in demand for business software and cloud services.