SINGAPORE: Chinese e-commerce company Pinduoduo Inc.’s PDD -10.31% Founder and chairman Colin Huang resigned from the company on Wednesday, even as the five-year-old company overtook Alibaba Group Holding. Limited. SLIME 2.08% to …
Read More »Fintech Stripe hits the box office at a $ 95 billion valuation
A new round of fundraising for Stripe Inc. has made the fintech company one of the most valuable startups in the world. Stripe said on Sunday it raised $ 600 million from …
Read More »China’s debt-fueled youth spending spree sparks a reckoning
Chinese regulators trying to curb Ant Group Co. and a growing online lending industry have one target in their sights: the excessive and debt-fueled lifestyles of the country’s youth. Ahead of last …
Read More »China sets plans to tame tech giant Alibaba
Under founder Jack Ma, Alibaba Group Holding Ltd. had local regulators and officials in its corner as it became a Chinese version of Amazon.com Inc.Chinese President Xi Jinping’s recent crackdown on the …
Read More »Ant Group boss tries to quell employee discontent with promise of eventual initial public offering
Facing discontent among employees, the Ant Group Co. chief executive said the Chinese fintech giant would eventually go public and the company would seek ways to help workers monetize some of their …
Read More »One reason China blocked Ant’s IPO: Xi Jinping’s concern about who positioned himself to win
When China’s leader Xi Jinping canceled Ant Group’s initial public offering late last year, his motives seemed clear: He was concerned that Ant was adding risk to the financial system and was …
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