Alibaba shares fell sharply in New York and Hong Kong after the Chinese e-commerce giant’s financial technology affiliate, Ant Group, suspended its $37 billion initial public offering. Ant’s dual listing in Shanghai and Hong Kong, originally scheduled for this Thursday, would have valued the company at $316 billion. Alibaba’s stake in Ant, 31.77% after the IPO, would have been worth about $100...
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The Weekend startups culture
The Heir Who Wants to Be Mayor
Hi, welcome to your Weekend.To spend time with Daniel Lurie is to understand the true meaning of the word “mensch.” Everyone who knows the San Francisco philanthropist and Levi’s heir says pretty much the same things about him: Daniel is “a really good guy”—affable, smart, egoless and earnest in his desire to improve the lives of the neediest. So earlier this year, when I began hearing...
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