Alibaba-Backed Ant Group's Valuation Estimated To Drop To $108B
Friday, 22 January 2021, 02:32:00
Alibaba Group Holdings Ltd. (NYSE: BABA)-backed Ant Group’s valuation is estimated to be around $108 billion, according to Bloomberg …
Jack Ma video reappearance fails to soothe all investor concerns
Friday, 22 January 2021, 01:24:32
HONG KONG: Billionaire Jack Ma’s 50-second video reappearance has done little to resolve Alibaba Group’s troubled relationship with regulators that is making some investors hesitate about owning the Chinese e-commerce giant’s stock. Relief at Ma’s first public appearance added $58 billion in market value on Wednesday as Alibaba’s Hong Kong-listed stock soared, though doubts
— Arab News
Hims CEO took a secret trip to China before COVID hit and sees Asia as a ‘massive market opportunity.'
Thursday, 21 January 2021, 22:15:15
Summary List Placement Digital-health startup Hims just went public in a $1.6 billion SPAC deal with Oaktree, opening at $17.16 on the New York Stock Exchange on Thursday. The successful exit values the three-year old company at just over $3 billion and puts about $205 million in cash into its coffers, giving founder and CEO Andrew Dudum a lot of options to expand the fast-growing, but still unprofitable business. While the company is mostly focused on the US, where it counts over 280,000 subscribed customers, Dudum tells Insider about a secret trip he took to Asia in November 2019, right before the global pandemic. Hims is most well-known for providing online consultation and shipping prescriptions for issues ranging from erectile dysfunction to hair loss and mental health. “I think that demand is very, very strong, so I do think in the next few years, that will be a market that we look at,” Dudum tells Insider exclusively. He describes the international tour he took through Asia, with stops in Singapore, Hong Kong, and mainland China, landing right before the Thanksgiving holiday.
— Business Insider
Alibaba stock spikes after Jack Ma resurfaces
Thursday, 21 January 2021, 18:00:54
Chinese billionaire Jack Ma resurfaced in an online video after staying out of the public eye for months — fueling rumors that he was missing.
— ABC News
Thursday, 21 January 2021, 14:25:00
Alibaba Shares Tumble As PBOC Makes Clear: Ant Group May Be “Torn Apart” While Jack Ma's return to public view yesterday (following a roughly 3-month absence) was briefly reassuring for Alibaba shareholders, reality apparently set in on Thursday as the company's shares tumbled again in Hong Kong, falling roughly 3%, after the People's Bank of China published a batch of new draft antitrust rules which seemed to play at investors' worst fears. For those who haven't followed the story, Alibaba founder Jack Ma, until recently the richest man in China, kicked off what has morphed into a multi-front war by the CCP on China's biggest tech giants when he offered a handful of seemingly innocuous criticisms of Beijing's tech regulatory structure during a late-October tech conference. Ten days later, Beijing abruptly canceled Ant Group's $37BN Shanghai Stock Market debut. The spinoff of what is essentially Alibaba's consumer payments and financial services wing was expected to be the biggest IPO on record.
— Zero Hedge
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