Zhang Yiming is the little-known Chinese entrepreneur who built TikTok into one of the most promising franchises on the Internet. Now the brainy, combative founder is under pressure to save the business.
A $20-billion fund-raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the plans of US companies such as Amazon.com, Walmart and Zoom.
Alibaba Group co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6-billion at its current share price.
China over the past decade built an alternate online reality where Google and Facebook barely exist. Now its own largest tech corporations are getting a taste of what a shutout feels like.
The US senate overwhelmingly approved legislation on Wednesday that could lead to Chinese companies such as Alibaba Group and Baidu being barred from listing on US stock exchanges.
ByteDance’s valuation has risen at least a third to more than $100-billion in recent private share transactions, people familiar with the matter said.
The Covid-19 pandemic likely barely dented Tencent Holdings’ growth. The bigger long-term threat may be the growing posse of challengers to its Internet leadership.
Alibaba Group will invest $28-billion on cloud infrastructure such as data centres over the next three years, a major effort to extend one of its fastest growing businesses to more countries.
Tencent’s quarterly earnings missed estimates after China’s economic slowdown eroded its core gaming business and the cost of fending off ByteDance and other rivals rose.
China’s technology industry enters a new year after weathering unprecedented turbulence in 2019, when giants emerged in social media and artificial intelligence only to bear the brunt of Washington.
