TikTok’s rocket revenue slows down as China tightens grip on big tech January 20, 2022 TikTok's momentous ascent may be slowing as insiders reveal that revenue grew by 70 per cent year-on-year to around $58bn in 2021, down from its 100 per cent growth rate in 2020.
Prosus and Naspers post record revenues as internet investments pay off June 21, 2021 Technology investor Prosus today posted its strongest annual performance to date, with revenues soaring by a third to $28.8bn. Prosus, which is controlled by South African company Naspers, said the record revenues were driven by strong returns at its stake in Chinese internet giant Tencent. The group also doubled its e-commerce portfolio value to $39bn [...]
Scottish Mortgage Investment Trust: buying opportunity? May 27, 2022 Scottish Mortgage (LON: SMT) shares are still up 77% over the past five years, despite recent falls. And as central banks make increasingly hawkish noises, its share price is now trading at a 12.7% discount to net asset value. However, this could represent a FTSE 100 buying opportunity. Scottish Mortgage Manager Tom Slater recently told investors that ‘in retrospect, it [...]
Tech firm NetEase pulls $1bn Cloud Village IPO after Beijing’s attack on gaming August 9, 2021 Chinese technology firm NetEase has put a pin in its $1bn Hong Kong listing for its music streaming service Cloud Village due to recent volatility in the tech market, according to reports. The initial public offering (IPO) had already been approved by the Hong Kong Stock Exchange’s listing committee, according to filings lodged with the exchange. [...]
Alibaba billionaire Jack Ma dethroned as China’s richest man March 2, 2021 Alibaba founder Jack Ma has been dethroned as China’s richest man after disappearing from the public eye late last year, according to multiple media reports in China. The billionaire and Ant Group founder lost the title after his empire was placed under heavy scrutiny by Chinese authorities following challenges to fintech regulators he made in [...]
When tech giant becomes gaming giant: Microsoft buys Call of Duty maker Activision Blizzard for a record £51bn January 18, 2022 Microsoft have announced that it would buy videogame publisher Activision Blizzard for $68.7bn (£51bn) in cash, making it the largest deal in the sector.
Rainfall: On a mission to unlock financial value July 5, 2022 From the Crypto AM magazine, Amit Pradhan explains the role of Rainfall in empowering mothers around the world.
Blockchain startup Everledger raises $20m in funding round led by Tencent September 24, 2019 UK-based blockchain startup firm Everledger has raised $20m (£16m) in a series A funding round led by Chinese investment firm Tencent. Everledger also received backing from startup funder Graphene Ventures and Fidelity Investments. Read more: Santander issues first end-to-end $20m blockchain bond Founded in 2015 by Australian business woman Leanne Kemp, Everledger uses blockchain technology [...]
Prosus to pay $4.7bn for rival Indian payments firm in largest buyout yet August 31, 2021 European technology giant Prosus has reportedly put forward $4.7bn for its largest ever deal, to buy Indian payments platform BillDesk, in yet another foreign investment in the country’s blossoming tech sector. BillDesk currently competes with Prosus’s payments firm PayU in India which means the deal will open up a fair portion of the growing payments [...]
Tencent in talks to buy stake in Universal Music Group August 6, 2019 The French media conglomerate behind Universal Music Group (UMG) is in talks to sell a chunk of the music company to Chinese tech giant Tencent. Vivendi said the deal, which would give Universal a total equity value of €30bn (£27.6bn), will help boost the firm’s presence in Asia. Read more: London firm to launch Spotify-style [...]