My brilliant colleagues in Washington also scooped that President Joe Biden's planned executive order to promote greater U.S.
#SOURCES DIDI KEEP LINKDOC UPDATE#
DIDI KEEP LINKDOC US IPOTIMES UPDATEĬompetition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals.
#SOURCES DIDI KEEP LINKDOC FULL#
It will also ask the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for customers to switch banks, the source said. The planned order, which was signed by Biden later on Friday, is likely to chill M&A in the banking sector after a rash of deals unleashed by the Trump administration's more industry-friendly regulatory policy. We were also first to report that digital payments processor Stripe, the most valuable U.S. technology startup, has taken its first major step toward a stock market debut by hiring a law firm to help with preparations. The 11-year-old company, which was valued by investors at $95 billion in a fundraising round in March, has sat out this year's red-hot market for initial public offerings (IPOs), using private tender offers to allow some of its existing investors and employees to cash out their holdings. Remaining private has enabled Stripe to keep such financial details as revenue and profitability under wraps. Yet this has also deprived it of using its shares as a publicly traded currency to help finance acquisitions and to incentivize employees.Īnd finally, my colleague Krystal Hu and I scooped that Noom, the operator of the popular U.S. weight loss app, has hired Goldman Sachs to lead its preparations for an initial public offering (IPO). The preparations for a stock market debut come as Noom has seen the popularity of its fitness platform soar during the COVID-19 pandemic, with consumers turning to digital health apps to keep fit and build healthy habits. EXCLUSIVE-Weibo chairman, state firm plan to take China's Twitter private – sources.With that, here are the other main highlights of our deals coverage this week: The New York-based company aims to more than double its valuation from its May private fundraising round when investors led by buyout firm Silver Lake valued it at $3.7 billion. Nasdaq-listed Weibo Corp's chairman and a Chinese state investor plan to take China's answer to Twitter private, sending its shares as much as 50% higher on Tuesday. IPO is seen as an example of the great lengths the Chinese government will pursue, even if a company has a high-profile name and numerous foreign investors.A deal could value Weibo at more than $20 billion, facilitate shareholder Alibaba's exit and see Weibo eventually relist in China to capitalise on higher valuations. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” the source told FT.Ĭhina’s crackdown on Didi following its U.S. The Chinese podcast platform Ximalaya recently suspended its U.S. The truck-hailing app Full Truck Alliance and online recruiter Boss Zhipin are two of the many Chinese companies that filed plans to go public in New York IPOs this year and are being subjected to intense scrutiny. The popular Chinese fitness app Keep is backed by Japan’s SoftBank and China’s Tencent and was looking to raise $500 million, sources told FT. IPO endeavors as Beijing intensified its policing of technology platforms in China. The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S. public listings are not forbidden, the move by LinkDoc is expected to spark a pull-out by additional Chinese companies with U.S. The move by officials prompted investors to unload Chinese stocks listed in the U.S.Īnalysts told Reuters that despite the fact that U.S. LinkDoc is likely the first Chinese startup to have retreated from its IPO plans as China’s regulatory agencies stepped up Big Tech oversight. The move against Didi from Chinese regulators came just two days after it went public in the U.S. Sources told Reuters that LinkDoc was in the midst of filing for a $211 million initial public offering (IPO) in New York but scrapped the plans after Beijing pulled Didi from app stores and from payment platforms WeChat Pay and Alipay. Medical data firm LinkDoc Technology and digital fitness platform Keep have both pulled out following regulators’ probes into ride-hailing giant Didi Global, according to separate reports from the Financial Times and Reuters on Thursday (July 8). in light of China’s crackdown on domestic companies looking to list overseas. Two Chinese startups suspended public listing plans in the U.S.
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