Didi Chuxing’s stock plunged more than 20% in New York Tuesday morning, after China’s government ordered the ride-hailing giant’s app to be removed from app stores. It’s unclear what will happen to Didi next. While grappling with Beijing’s crackdown, Didi, whose initial public offering last week raised $4.4 billion, also faces investors’ questions about whether the company’s management pushed...
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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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