Social media lessons from TikTok, Tencent and Weibo December 2, 2019 The average consumer would be forgiven for not knowing their Tencent from their Sina Weibo. In fact, it’s unlikely that they have heard of either platform. Yet these are two of the biggest social media companies in the world, bringing in billions in revenue each year. From transferring money, playing games, and even booking doctors [...]
SEC halts Wall Street IPOs of Chinese companies as mulls new risk disclosures July 30, 2021 The US Securities and Exchange Commission (SEC) has frozen registrations of Chinese companies for IPOs on US markets while it drafts new guidance for disclosing the risk of a Beijing regulatory crackdown to investors. Chinese companies must not submit registrations for the sales of securities to the SEC until it has formulated new rules on how [...]
Largest-ever wealth drop: Chinese e-commerce mogul loses $27bn September 17, 2021 The founder of a Chinese e-commerce platform has reportedly seen his wealth nosedive $27bn this year – the largest wealth drop in the world on record. Colin Huang, who made his wealth through his platform Pinduouo (PDD), has suffered as a result of China’s hawkish regulations on internet and technology firms. The biggest plunge in [...]
Tencent profit falls as Alibaba threat and economic woes weigh November 13, 2019 Chinese tech giant Tencent has posted a sharp drop in profit for the third quarter as rival Alibaba gears up for its Hong Kong listing. The gaming and social media firm reported net profit of 20.4bn yuan (£2.3bn), down 13 per cent on the same period last year. Read more: Blockchain startup Everledger raises $20m [...]
Deep dive with DreamWorks’ former CTO: ‘Forget social media, the Metaverse tracks people much more intimately’ November 12, 2022 The novel Snow Crash has had the privilege of coining a term that would later become one of the most important words of the 21st century: metaverse. Google search trend data for the term shows an explosion from relative obscurity with a search volume score of 4/100 in early October 2021, to an all-time global high by search [...]
UK videogame investment booms with M&A hitting £1.9bn in 2021 January 31, 2022 The UK gaming industry flourished in the past year, as the pandemic turned gaming into a social activity, expanding demographics and a widening its consumer base. M&A deals for UK video game makers hit £1.9bn in 2021, a 63 per cent increase on the £1.2bn in 2020, according to research from accountancy and business advisory [...]
Brazil’s Buffett-backed Nubank eyes $55bn valuation ahead of US IPO August 26, 2021 Brazil’s digital bank Nubank is reportedly eyeing a $55.4bn valuation ahead of its initial public offering (IPO), as Brazilians look beyond traditional lenders. If Brazil’s most prominent digital bank is listed at a market cap greater than its largest tradition bank Itau Unibanco, Nubank would shoot up the ranks towards international high flyers like the [...]
Gaming shares slide after China puts limits on kids playing online games August 31, 2021 China’s new rules forbidding under-18s from playing online games for more than three hours per week to curb youth video game addiction. China’s National Press and Publication Administration announced yesterday that gamers under 18 are only allowed to play online between 8-9 pm on Fridays, weekends and holidays. The authorities have instructed gaming companies to [...]
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Tecent, Baidu and SoftBank fined in China for monopolistic behaviour in fintech crackdown March 12, 2021 China’s market regulator said today it has fined 12 companies $77,000 each for flouting anti-monopoly rules. Concerning ten deals in particular, companies including Tencent Holdings, Baidu Inc, Softbank and a ByteDance-backed firm, were fined for behaviour that caused market concentration, the State Administration for Market Regulation (SAMR) said. The companies’ actions did not completely exclude [...]