Tencent will no longer be the top shareholder in JD.com, the Chinese online retailer, after it distributes $16.4 billion-worth of its stake to shareholders as a dividend. After the dividend, Tencent’s stake in JD.com will be 2.3% from around 17%, Reuters said. That will leave Walmart as the top outside shareholder in China’s second-biggest e-commerce company. Tencent’s president, Martin...
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Pinterest’s Tardy CEO Shakeup
What timing! No one could say they were surprised that Ben Silbermann is stepping down as CEO of Pinterest—that’s something we’ve expected for a while. After all, while he and his co-founder, Evan Sharp, built the business into a public company worth $13 billion—even after the stock plunge of recent months—Silbermann lately has been grappling with falling user numbers in the U.S. No, what is...
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