Alibaba’s Hong Kong-listed stock plunged 9.8% Wednesday as investors continued to sell Chinese tech stocks due to concerns about the impact of China’s new antitrust rules. The e-commerce giant’s share price had already dropped 5.1% in Hong Kong and 8.3% in New York on Tuesday after the Chinese government unveiled draft regulations. The stock’s sharp decline overshadowed some of the...
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Alexis Ohanian Venture Fund Plots $776 Million in New Funds

Seven Seven Six, the venture capital fund launched by Reddit co-founder Alexis Ohanian in 2020, plans to raise $776 million for two new funds, according to investment documents viewed by The Information. The planned fundraising is more than 50% bigger than what it raised last year and will test investor appetite for bigger funds during a tough environment. The Palm Beach, Fla.-based firm had an...
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