Enterprise software firm Hashicorp set a preliminary pricing range for its upcoming IPO that implies a market capitalization of about $13.5 billion, more than double the $5.3 billion valuation it received in a private fundraising last March. Hashicorp said in a securities filing it hopes to sell 15.3 million shares at between $68 and $72 a share. Hashicorp, which develops software for building...
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Opinion Asia Policy
China’s Tech Crackdown Is a Geopolitical Play
It hardly bears repeating that 2021 was a rough year for China’s platform companies. The firehose of new regulations and rolling crackdowns on everything from data security to overseas listings cost Chinese shares—including those of Didi, Meituan, Pinduoduo, JD.com, Tencent, and ByteDance—42% of their cumulative value in the U.S. and Hong Kong. Not so long ago, China held up...
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