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The race to be China’s top fintech platform: Ant vs Tencent

The race to be China’s top fintech platform: Ant vs Tencent As Ant Group seizes the world’s attention with its record initial public offering, which was abruptly called off by Beijing, investors and analysts are revisiting Tencent’s fintech interests, recognized as Ant’s archrival in China. It’s somewhat complicated to do this, not least because they […]

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Pulled Ant Group IPO costs Alibaba nearly $60B in market cap

Pulled Ant Group IPO costs Alibaba nearly B in market cap News today that Ant Group’s IPO is suddenly on hold in both Shanghai and Hong Kong caused a sell-off of Alibaba shares. This afternoon, equity in sister-company Alibaba is off around 8% in the wake of the delayed offering and news that Ant had […]

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Tencent claims record 100M daily users on mobile game Honor of Kings

Tencent claims record 100M daily users on mobile game Honor of Kings At its five-year anniversary gala graced by celebrities, esports stars and orchestras, Tencent’s mobile game Honor of Kings said it has crossed 100 million daily active users. The title has not only broken user records but generated other unprecedented accomplishments along the way. […]

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Fab founder Jason Goldberg is back with Moxie, a new live-streaming fitness marketplace

Fab founder Jason Goldberg is back with Moxie, a new live-streaming fitness marketplace Amid a pandemic that has closed down fitness centers worldwide, a spate of companies has muscled their way into the booming at-home fitness market. In just the last two weeks, three-year Future, which promises at-home customers access to elite training, closed on […]

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Ant Group could raise as much as $34.5B in IPO in what would be world’s largest IPO

Ant Group could raise as much as .5B in IPO in what would be world’s largest IPO The long-anticipated IPO of Alibaba-affiliated Chinese fintech giant Ant Group could raise tens of billions of dollars in a dual-listing on both the Shanghai and Hong Kong exchanges. Shares for the company formerly known as Ant Financial are […]

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Tencent leads $100M Series B funding round into China-based esport provider VSPN

Tencent leads 0M Series B funding round into China-based esport provider VSPN 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 […]

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This new Southeast Asian fund has its eye on Chinese cross-border firms

This new Southeast Asian fund has its eye on Chinese cross-border firms As U.S.-China relations remain tense, Southeast Asia becomes the darling for investors and tech companies from both sides as they seek overseas expansion. Behemoths like Google, Facebook, Alibaba, Tencent and ByteDance have elbowed into the region. Some set up shop, while others formed […]

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President Trump reportedly has approved the Oracle deal for TikTok’s US operations

President Trump reportedly has approved the Oracle deal for TikTok’s US operations President Donald Trump said has has given his stamp of approval “in concept” on the Oracle bid for the U.S. operations of the wildly popular social media app, TikTok, according to a report from Bloomberg. According to the Bloomberg report Trump said, “I […]

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Gaming companies are reportedly the next targets in the US government’s potentially broader Tencent purge

Gaming companies are reportedly the next targets in the US government’s potentially broader Tencent purge Some of the biggest names in online gaming in the United States have received letters from the U.S. government requesting information about their relationship with the multibillion-dollar Chinese technology company, Tencent, according to reports. Even as the U.S. Department of […]

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Justice Department says WeChat users won’t be penalized under Trump’s executive order

Justice Department says WeChat users won’t be penalized under Trump’s executive order In a Wednesday filing in federal court, the United States government said that users who use or download WeChat “to convey personal or business information” will not be subject to penalties under President Donald Trump’s executive order banning transactions with the Tencent-owned messaging […]

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