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Manbang Group may plan to file for U.S. IPO as early as this week
Chinese Uber-like truck logistics unicorn Manbang Group plans to file for a U.S. IPO as early as this week. According to people familiar with the matter, Manbang Group may raise approximately US$1.5 billion through this IPO, and its valuation will be between US$20 billion and US$30 billion. Manbang Group was formed by the merger of two truck service platforms, Yunmanman and Huochebang in 2017. In November last year, the group initially raised US$1.7 billion from investors such as Tencent Holdings.
Nio will provide smart EVs to Hainan’s Sansha
AlleyWatch
Armed with some data from our friends at CrunchBase, I broke down the largest US startup funding rounds from April 2021. I have included some additional information such as industry, company description, round type, founders, and total equity funding raised to further the analysis. The TechWatch Media Group audience is driving progress and innovation on a global scale. With its regional media properties (NYC Tech, LA Tech, London Tech, Paris Tech, Boston Tech) TechWatch Media Group is the highway for technology and entrepreneurship. There are a number of options to reach this audience of the world’s most innovative organizations and startups at scale including strategic brand placement in a high-visibility, lead generation, and building thought leadership among the vast majority of key influencers in the business community and beyond. Learn more about running a digital campaign that will return your investment here.
Why Did Xi Jinping Purge Jack Ma?
Commentary
Jack Ma, now China’s fourth-richest man and the former CEO of Chinese e-commerce giant Alibaba, criticized China’s financial system policies at the Bund Summit 2020 in October. Since then, his enterprises have become the target of Xi Jinping.
At first, the listing plan for Ant Group, an affiliate company of Alibaba, was halted on Nov. 3. On April 10 this year, the Alibaba Group was fined $2.8 billion on the grounds that it violated an antitrust law, and Ma’s elite business school, Hupan University, was forced to halt enrolments.
I don’t think Ma’s troubles are over.
The Straits Times
In his heyday, Mr Wang Jianlin jetted around in his Gulfstream G550 private plane.PHOTO: BLOOMBERG
PublishedMar 16, 2021, 8:49 am SGT
https://str.sg/JjHL
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