Coupang, the South Korean e-commerce site backed by SoftBank, booked a loss of nearly $520 million in the quarter ended in June, the Financial Times reported. Shares of the company are down more than 30% since its initial public offering in March, and the decline threatens to erase some of the gains SoftBank reaped from Coupang’s IPO. The newspaper said Coupang reported a loss after a fire...
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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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