Major Chinese automaker Geely said its founder has launched a new company to make smartphones, making a foray into a market already crowded with many Chinese and foreign brands. Hubei Xingji Shidai Technology, the new venture founded by Geely founder and chairman Eric Li, plans to make high-end smartphones, the company said in a statement. The new company, which is based in the central Chinese...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals. As Musk has...
Twitter Valued at $20 Billion in New Employee Stock Grant
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