SoftBank, Alibaba Lead $1.1B Investment in Indonesia E-Commerce Firm Tokopedia

Article 0 Comments SoftBank Vision Fund and Alibaba Group Holding Ltd. led a $1.1 billion investment in PT Tokopedia, a financing round that will help Indonesia’s biggest online marketplace venture beyond e-commerce into new areas such as air tickets and insurance. The company was valued at more than $7 billion […]

Alibaba’s Ma to Step Down as Chairman in Year; Zhang Named Successor

Article 0 Comments Alibaba is heralding the end of the Jack Ma era. A former English teacher who helped found Alibaba Group Holding Ltd. two decades ago, Ma outlined plans to hand the executive chairman role to Daniel Zhang, a finance veteran who’s presided over an ambitious expansion and won […]

Google Partners with Indian Banks to Attract Users to Its Digital Payments Services

Article 0 Comments Alphabet Inc’s Google said on Tuesday it is partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital payments services. At an annual Google event […]

Berkshire Invests $356M in One97, Parent of India’s Biggest Digital Payments Firm

Article 0 Comments Berkshire Hathaway Inc has acquired a 25 billion rupees ($356 million) stake in the parent of digital payments company Paytm, a source said, its first investment in an Indian startup as it moves into the financial payments sector. The conglomerate run by billionaire Warren Buffett confirmed in […]

Chinese Tech Firms Seek to Shake Up Stake-Run Health Sector with AI and Big Data

Article 0 Comments In the eastern Chinese city of Hangzhou, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data. The system, which involves sending information to a centralized computer linked to the city’s transport networks, is part […]

Explaning Ant Financial’s $150B Valuation – and Investor Enthusiasm for China Tech

Article 0 Comments Ant Financial’s rapid climb to become the world’s biggest super unicorn valued by some investors at around $150 billion showcases investor enthusiasm for the biggest Chinese tech companies and also how quickly valuations can shift. Just two months ago, bankers and investors were tentatively talking of a […]

China’s Ant Financial Targets at Least $8B in Investor Funding: Sources

Article 0 Comments China’s Ant Financial Services Group is in talks with investors to boost its fundraising target to at least $8 billion, which could see its valuation jumping to about $150 billion, people with knowledge of the plan said. Singapore state investor Temasek Holdings is likely to be the […]

SoftBank Borrows $8B, Backed by Its Stake in Alibaba, Say Sources

Article 0 Comments SoftBank Group Corp. borrowed about $8 billion through a margin loan backed by its Alibaba Group Holding Ltd. stake as the Japanese technology giant aims to bolster its financial flexibility, according to people familiar with the matter. The loan, guaranteed only by the Alibaba holding, won’t be […]