Baidu, often described as the Chinese equivalent of Google, is to launch an artificial intelligence chatbot service similar to ChatGPT in March, according to a report by Reuters. A source told the…
Jack Ma to Cede Control of Ant Group
Jack Ma, the billionaire founder of Ant Group, is to cede control of the Chinese fintech company following a regulatory crackdown. Ant Group, which runs Alipay, the main online payment system in…
Chinese Firms Avoid Delisting as U.S. Regulator Given Access to Audit Papers
Chinese companies have handed U.S. regulators access to audit papers for the first time, easing fears that tech giants like Alibaba and JD.com will be kicked off the country’s stock exchanges. The…
Tesla Slashes Prices in China Amid Demand Concerns
Tesla has cut prices of its cars in China, as the electric car manufacturer faces increased competition and slowing demand. This week Tesla’s Chinese website offered a Model 3 sedan at a…
Apple Halts Plans to Use China’s YMTC Chips
Apple has paused plans to use memory chips manufactured by Yangtze Memory Technologies Co (YTMC), the largest memory chip maker in China, after US trade sanctions targeted the company, according to reports. …
Naver Agrees $1.2bn Deal to Buy Fashion Marketplace Poshmark
The South Korean search giant Naver has agreed to acquire fashion marketplace Poshmark for $1.2 billion in cash. The deal values the company’s shares at $17.90, a 15% premium on yesterday’s closing…
Interpol Issues Arrest Notice for Crypto Founder
Interpol has issued a “red notice” for Do Kwon, the founder of the failed cryptocurrency Terra. The red notice means Interpol has asked law enforcement agencies around the world to find and…
Israel’s YL Ventures Sells Axonius Stake for $270m, Just a Week After Unicorn Valuation
Israeli venture capital fund YL Ventures has sold its stake in compatriot cybersecurity firm Axonius – just days after the latter was valued at over a billion dollars. The stake, worth around…
OurCrowd Jobs Index Shows Startup Hires Growing Despite Pandemic
Startups backed by influential Israel-based equity crowdfunding group OurCrowd are looking to hire in greater numbers, despite the lingering COVID-19 pandemic. The number of jobs listed by OurCrowd’s global portfolio companies more…
Meesho is SoftBank’s Latest Big Buy
Meesho, India’s largest reselling website, has negotiated a $250 million funding round led by SoftBank’s Vision Fund, the Economic Times has reported. The round, if completed, will value Meesho at between $1.5bn…