GLy Capital Management, a Hong Kong-based investment manager in the mobility sector, announced on Wednesday the final closing of its maiden private equity (PE) fund — the New Mobility Fund, which raised $163 million in capital commitments. The New Mobility Fund, which counts Chinese automaker Zhejiang Geely Holding Group and South Korea’s SK Inc as… Continue reading Geely-backed investment firm GLy secures $163m final close of debut PE fund
Category: Tech News
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Musk sells Tesla shares worth $6.9b to save up for forced Twitter deal
Tesla Inc Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform. “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some… Continue reading Musk sells Tesla shares worth $6.9b to save up for forced Twitter deal
Elon Musk sells massive $6.5 billion chunk of Tesla (TSLA) stake
Tesla has disclosed that CEO Elon Musk sold around $6.5 billion worth of Tesla (TSLA) shares last week. It’s a significant chunk of his Tesla stake, but the reason behind the sale is unknown as of now. A Twitter settlement maybe? Update: Musk has commented on the sale, and we have added those comments to… Continue reading Elon Musk sells massive $6.5 billion chunk of Tesla (TSLA) stake
How two Silicon Valley entrepreneurs’ plan to build a VR startup in China implodedThe business racked up losses and struggled to comply with regulator…
In late 2014, Silicon Valley-based entrepreneurs Sun Jing and Xu Bing welcomed a government delegation from East China’s Zhejiang province that was visiting the US tech hub to look for overseas talent. Xu had moved to the US to study and built up his career in the tech industry, and Sun had been engaged in… Continue reading How two Silicon Valley entrepreneurs’ plan to build a VR startup in China implodedThe business racked up losses and struggled to comply with regulator…
Dreaded ‘down rounds’ shave billions off startup valuations
Several high-flying startups are being brought down to earth, as a recent carnage in global equity markets and lacklustre demand for new listings force companies to raise funds at a substantial discount to their sky-high valuations. Easy money from venture capital dealmaking is fast evaporating in an inflation-induced high interest-rate environment as many private investors… Continue reading Dreaded ‘down rounds’ shave billions off startup valuations
South Korea to probe app store operators over suspected in-app payment violations
South Korea‘s telecommunications regulator said on Tuesday it plans to launch an investigation into app store operators such as Apple Inc, Alphabet’s Google and One Store over suspected violations of in-app payment law. Potential fines for infractions could be as high as 2% of the average annual revenue from related business practices, the law says. The… Continue reading South Korea to probe app store operators over suspected in-app payment violations
Beijing consumer rights group summons grocery firm Missfresh over complaints
A Beijing consumer rights group said on Tuesday it had asked Missfresh to work on plans to refund its customers and explain how it will rectify its business after receiving a number of complaints, adding to pressures facing the Tencent Holdings and Tiger Global-backed grocery startup. The government-backed Beijing Consumer Association said in a statement on its website on Tuesday that… Continue reading Beijing consumer rights group summons grocery firm Missfresh over complaints
Cleantechnica: Tesla and Indonesia Agree On Nickel Supply Deal Worth $5 Billion 002169
CNBC Indonesia is reporting that Tesla and the government of Indonesia have come to an agreement for that country to supply nickel worth $5 billion to Tesla over the next 5 years. The deal apparently means that Tesla will not be relying primarily on iron phosphate batteries for its vehicles in the future. Since Google Translate… Continue reading Cleantechnica: Tesla and Indonesia Agree On Nickel Supply Deal Worth $5 Billion 002169
Clean Technica: Elon Musk Shines In The Limelight At Tesla’s 2022 Annual Meeting Of Stockholders002168
After the announced proposal results at Tesla’s 2022 Annual Meeting of Stockholders, CEO Elon Musk took the stage. “Welcome,” he began, but a rousing round of applause forced him to halt his introductory remarks. “I feel welcome,” he smiled, looking around at the adoring masses. Musk’s extemporaneous talk continued to be punctuated by applause from… Continue reading Clean Technica: Elon Musk Shines In The Limelight At Tesla’s 2022 Annual Meeting Of Stockholders002168
Clean Technica: Some Fans Love The Tesla Brand But Question Musk’s “Unfiltered Tweeting”002167
If you look at the Tesla Reddit forum, it’s nearly universal: the Redditors love their Teslas. People who post there talk about the Tesla brand — the Supercharger network, Smart Summons, accessories and apps, the 4680 batteries, adapters, autonomy, and other vehicle-specific topics. Sure, a few commenters speak about the health of the company or… Continue reading Clean Technica: Some Fans Love The Tesla Brand But Question Musk’s “Unfiltered Tweeting”002167