Markets Asia

Didi’s Stock Falls More Than 20% After China’s Crackdown

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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Exclusive Venture Capital Asia
Chinese Government Invested in the Same Tech Companies It’s Now Attacking
Chinese President Xi Jinping. Photo: Bloomberg
A month ago, China’s top internet regulator launched a cybersecurity probe into Chinese truck-hailing company Full Truck Alliance, causing its share price to plunge less than two weeks after its initial public offering on the New York Stock Exchange. Yet the same internet regulator controls an investment fund that owns shares in the company. Full Truck isn’t the only one in this...
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Art by Mike Sullivan
Modest Proposals Venture Capital
The End of Venture Capital as We Know It
All signs seem to indicate that by 2022, for the first time, nontraditional tech investors—including hedge funds, mutual funds and the like—will invest more in private tech companies than traditional Silicon Valley–style venture capitalists will.
Attorney-General Merrick Garland. Photo by Bloomberg
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DOJ Weighing a Lawsuit to Block UnitedHealth’s $8 Billion Change Purchase
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Ramp co-founders Karim Atiyeh (left) and Eric Glyman. Photo courtesy of Ramp.
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Nvidia CEO Jensen Huang. Photo by Bloomberg
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Illustration by Mike Sullivan
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Amazon Installed Cameras to Track Drivers. New Documents Reveal How They Work.
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TaxBit co-founders Justin Woodward (left) and Austin Woodward (right). Photo: TaxBit, Shutterstock.
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