Neil Shen, the billionaire venture capitalists who heads Sequoia Capital China, has sold as much as $215 million in shares of Pinduoduo, Meituan and Dada Nexus, Chinese e-commerce apps hit by the government’s crackdown on tech, the Financial Times reported. The report said Shen sold about $30 million in shares of Pinduoduo, a discount shopping app that has seen its share price fall by half...
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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.
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