Amid Chinese ride-hailing giant Didi Global’s trouble over cybersecurity with regulators, its local rivals are trying to grab market share. Meituan, the online food delivery and travel company listed in Hong Kong, relaunched a standalone ride hailing app, called Meituan Dache, last week after Didi’s own apps were barred from app stores, according to the Global Times. Meituan’s app...
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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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