In the first quarter this year, U.S. startups raised $69 billion from investors—41% more than the previous record, set in the fourth quarter of 2018, according to data firm PitchBook Data Inc. The average valuation for startups at all stages also reached a new high, and more than tripled from last year to $1.6 billion … Read more
While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down. Now Wang, 42, … Read more
Business payments and financial services startup Razorpay has raised $160 million as part of its Series E round co-led by existing investors, Singapore’s sovereign wealth fund GIC and Sequoia India, at a valuation of $3 billion. Last October, the firm had secured $100 million in a round led by GIC and Sequoia India at a … Read more
Esports Technologies jumped as much as 48% Friday morning after a colossal public debut the previous day. The esports betting company soared 507% in its first day of trading on Thursday. Esports Technologies extended gains Friday morning after soaring 507% in its first day of trading. Shares of the competitive gaming company rose as much … Read more
The company has the money to spend, ending its 2020 fiscal year with $136 billion cash on hand after the pandemic forced a shift to remote work and led to a boom in Microsoft’s cloud and productivity software. Experts say that with its surging market cap of near $2 trillion – and its leading rivals … Read more
Bitnine Global Inc., a Graph database R&D company, launched a cloud-based graph visualization solution, AG Cloud Express. Bitnine explained the background of the release of AG Cloud Express, saying “It is a response to the growth of global demand and market needs for cloud service.” AG Cloud Express is a free online database service based … Read more
1. At one year old, Clubhouse has a user base bigger than the population of Pennsylvania. Clubhouse has crossed 15 million app installs, according to the app analytics company SensorTower. Its founders also said Tuesday that the app had 15 million users. If it was a state, Clubhouse would be the fifth largest state by … Read more
Shares of ByteDance Ltd., the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250 billion in the secondary market, according to people familiar with the matter. The Beijing-based company’s value has surged in recent weeks as investors gain confidence in the business and founder Zhang Yiming weighs options … Read more
Microsoft is said to be in exclusive talks to acquire online group chat platform Discord for $10 billion or more, in a deal that could be announced as soon as April. The company has yet to confirm a pending deal, but recent comments from executives help shed light on why exactly Microsoft might want to … Read more