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Faraday Founder Files for Bankruptcy in U.S.

By Wayne Ma
· · Source: The Wall Street Journal

The Chinese billionaire who founded electric-vehicle startup Faraday Future has filed for Chapter 11 bankruptcy in the U.S., The Wall Street Journal reported, citing court filings.  Jia Yueting, who also founded Chinese internet TV streaming service LeEco, is seeking protection from creditors owed as much as $3.6 billion, the newspaper said, adding Jia will give up his stake in the holding...

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Salesforce appears to be closing in on its latest acquisition target, Slack. A deal may be announced Tuesday afternoon, CNBC reported today, with Salesforce paying a premium to Slack’s current price. That suggests Salesforce could pay more than $23 billion, the enterprise value of Slack implied by its closing price on Monday of $42.88. That would make the deal nearly 60% bigger than...
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Startups Microsoft
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Exclusive Policy Facebook
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