One of the reasons why China’s government suspended Ant Group’s initial public offering in November was that the company’s investors who stood to gain from its $37 billion IPO included those with ties to political families that represent a potential challenge to President Xi Jinping, the Wall Street Journal reported. For example, one of Ant’s shareholders is private equity firm Boyu Capital,...
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TikTok CEO Goes to Washington With a Disparate Band of Allies
TikTok is one of the most popular entertainment services in the U.S., used monthly by nearly half of the population. Yet as the app battles for its life, it has remarkably few allies to provide support. Even those that directly benefit from TikTok, such as music labels and creators, have mixed feelings about TikTok, largely because they say it doesn’t pay its partners enough. That’s...
Virgin Orbit Nears $200 Million Funding Deal
Amazon Tests Palm-Scanning Technology at Panera Bread
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