Shares of ByteDance, 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.
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China’s DiDi Chuxing Technology Co, which is backed by SoftBank Group and other investors, said on Monday it will start a ride-hailing service in Cape Town.
Chinese gaming and social media group Tencent Holdings, partially owned by Naspers spin-off Prosus, on Wednesday reported a market-beating 26% jump in quarterly sales, helped in part by its online gaming business.
Pony Ma, founder of Naspers affiliate Tencent Holdings, China’s biggest social media and videogames company, met with antitrust watchdog officials this month to discuss compliance at his group, sources said.
Apple has said it will apply App Store rules to all apps globally after reports that Chinese app developers are preparing workarounds for the company’s upcoming limits on ad tracking.
China’s top leader has warned that Beijing will go after so-called “platform” companies, a sign that the months-long crackdown on the country’s Internet sector is only just beginning.
Pony Ma’s Tencent Holdings has been put on notice. Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online empire.
Sea Ltd is one of those companies you either know, or you’ve never heard of. And investors the world over will be kicking themselves for missing the massive run-up in its stock.
Whenever Naspers and Prosus management address any of their stakeholders, somebody will ask what they’re doing to address the discount of the Naspers share price to its underlying net asset value.
When faced with such a strong influx from investors, even sell-side analysts have thrown in the towel, upgrading their price targets to chase after the stock surge.