Tech stocks drop amid broader market selloff, similar to Sept. 2020's slump; Apple, Amazon, Facebook, Alphabet, and Microsoft lost $500B+ in value since Sept. 7
Jeran Wittenstein / Bloomberg :
Tencent says it will give an additional $7B to aid the Chinese government's wealth redistribution plans and warns investors of more government regulations
- Tech giant pledges $7.7 billion to help wealth redistribution — Company had flagged further regulations for the tech industry
Sources: Cloud Village, the music streaming arm of Chinese gaming giant NetEase, is postponing the launch of its $1B Hong Kong IPO
- Cloud Village tested investor demand for the IPO last week — Tech shares have been hit by Chinese regulatory clampdown
Tech companies took up 22% of new office space in Singapore between 2015-2020, up from 8% between 2004-2014, led by Amazon, as financial firms reduced workspace
In the financial mecca of Singapore, a new crowd is flocking to its offices: technology companies. Tweets: @business Tweets: @business : Tech behemoths like Amazon and TikTok owner ByteDance are flock...
CoStar Group: Amazon, Facebook, Apple, Alphabet, and Microsoft together occupy around 589M square feet of US real estate, up 5x from a decade ago
Tech's soaring property demand has been mostly a boon for cities, although it has fueled some concerns over rising rents and gentrification
South Korean payments app Toss, which also provides credit, loans, insurance, and investment products, raises $80M at a $1.2B valuation led by Kleiner Perkins
Jon Russell / TechCrunch : Tweets: @jonrussell Tweets: Jon Russell / @jonrussell : Tech's newest unicorn is Toss, a payment app from South Korea that has 10M registered users and processes $18B in an...
Report: China's tech funding rose to record $58.8B in 2017, up from $56.1B in 2016; logistics and transportation sector raised the highest at $16.8B
China's startups and tech giants pulled in a record US$58.8 billion from investors in 2017, according to the Tech in Asia database.
Bill Gurley marks recent tech sell-off with another warning about unprofitable unicorns, says cycle “where growth is valued more than profitability” may end
Bill Gurley to Unicorns: Winter Is Coming. You Ready? — Tech stocks have been taking a beating lately … Tweets: @bgurley , @bgurley , @pkedrosky , @stevesi , @stewart and @benedictevans Tweets: Bil...