ByteDance’s proposal for the formation of a new TikTok Global company, now approved by President Trump, will reduce combined Chinese investment in the new firm to 36% from 45% in ByteDance currently, said a person with direct knowledge of the deal. At the same time, combined U.S. ownership in TikTok Global will be 53%, up from 41% in ByteDance currently. ByteDance will distribute shares in...
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MoonPay Is Trying to Reinvent Itself
In case you missed it, I scooped Tuesday that insiders at MoonPay, including its DJ-turned-CEO Ivan Soto-Wright, sold $150 million worth of shares in a secondary transaction as part of its $555 million November 2021 funding round. And a few weeks after the Series A announcement, Soto-Wright bought a $38 million Miami Beach estate that was previously owned by retired Miami Heat star Chris Bosh....
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In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.