Pulled Ant Group IPO costs Alibaba nearly $60B in market cap

News today that Ant Group’s IPO is suddenly on hold in both Shanghai and Hong Kong caused a sell-off of Alibaba shares. This afternoon, equity in sister-company Alibaba is off around 8% in the wake of the delayed offering and news that Ant had run into regulatory issues with the Chinese government. Ant was spun […]

China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

The Shanghai and Hong Kong stock exchanges announced postponing Ant Group’s colossal initial public offering, a day after Chinese regulators weighed a slew of new fintech rules and summoned Jack Ma and other top executives to a closed-door meeting. The rare talk between China’s top financial regulators and Ant, which revealed “major changes in the […]

The OpenStack Foundation becomes the Open Infrastructure Foundation

This has been a long time coming, but the OpenStack foundation today announced that it is changing its name to ‘Open Infrastructure Foundation,” starting in 2021. The announcement, which the foundation made at its virtual developer conference, doesn’t exactly come as a surprise. Over the course of the last few years, the organization started adding […]

Alibaba-affiliated marketplace to leave Taiwan, again

Separated by a strait, the internet in Taiwan and mainland China are two different worlds. Even mainland tech giants Alibaba and Tencent have had little success entering the island, often running into regulatory hurdles. Less than a year after Taobao launched on the island through an Alibaba-backed joint venture, the marketplace announced it will cease […]

Alibaba-affiliated marketplace to leave Taiwan, again

Separated by a strait, the internet in Taiwan and mainland China are two different worlds. Even mainland tech giants Alibaba and Tencent have had little success entering the island, often running into regulatory hurdles. Less than a year after Taobao launched on the island through an Alibaba-backed joint venture, the marketplace announced it will cease […]

Lead Edge Capital just closed on $950 million from a whopping 500 investors

Lead Edge Capital, a software-focused venture firm with one office in New York and another in California, was founded just 11 years ago. Yet it’s already managing $3  billion in assets through a process that founder Mitchell Green half-kiddingly refers to as “rinse and repeat.” As he describes its model, Lead Edge raises money from […]