Viacom reached a deal to acquire Pluto TV, which operates a free, ad supported streaming service, for $340 million. That’s in line with what we reported last week. (We’d also reported that Viacom was considering buying Pluto’s competitor Tubi, but it looks like that deal was not…to be.) In the announcement, Viacom said Pluto TV had 12 million monthly active users. We’d heard it was around 10...
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Amazon’s Roads to Nowhere
For months, residents of Margo Drive, a narrow residential street on the outskirts of Charlotte, N.C., have puzzled over this question: Why do gigantic semitrucks hauling cargo for Amazon keep rumbling down their one-lane, dead-end road? While Amazon has a warehouse nearby that opened late last year, its entrance is located through an impassable thicket of trees about 613 feet away from the end...
Didi Considers Going Private to Appease Beijing, Compensate Investors
SoftBank Selling $2.1 Billion of Uber Stake
China Seeks to Calm Investors After Policy Triggers Market Rout
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Sequoia Capital vs. Hillhouse: Inside China’s Fiercest Investor Rivalry
Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor Neil Shen, pledged to invest $400 million in a new funding round for Full Truck Alliance, China’s “Uber for trucks.” Days later, Zhang Lei, the rival head of private-equity giant Hillhouse Capital Group, flew to Nanjing, met Full Truck’s CEO over dinner and arranged a $110 million investment in the same round, according to a person familiar with the matter.