Tencent said China’s recent crackdown on the education sector will likely have a negative impact on the Chinese internet giant’s advertising revenue in the near term, because online tutoring apps have been major advertisers on Tencent’s platforms. The tutoring ban, which was announced in late July, “essentially takes away a big buyer of ads on our platforms,” Tencent President Martin Lau said...
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Tiger Global, Alkeon Slash Startup Valuations Amid Public Stock Selloff
For more than a year, startup founders have watched in awe and some trepidation as hedge funds and other large investors flooded private startups with big checks, pushing up valuations and making it easier than ever to raise money. Those freewheeling days may be numbered as a sell-off in public tech stocks bleeds into the startup world. Among the examples of change: Investors are starting to...
Amazon Shuts Down Retail Partnership Program, Pays $2.25 Million in Washington State Antitrust Settlement
HBO Max Sees 10% Jump in Retail Subscribers
Intel Wins Court Battle Against Landmark $1.2 Billion Antitrust Fine
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