China's Alibaba Shrugs Off $2.75b Antitrust Fine, Shares Rally Alibaba Group Holding Ltd does not expect any material impact from the antitrust crackdown in China that will push it to overhaul how it deals with merchants, its CEO said on Monday, after regulators fined the e-commerce giant $2.75 billion for abusing market dominance.
Indian Foodtech Giant Swiggy Nears $800M Fund Raise In Series J Round Indian foodtech major, Swiggy is in the final stages to close $800 million in funding, in its Series J round of financing, with investors Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac and Goldman Sachs joining as new investors, according to an internal memo sent by company founder Sriharsha Majety to employees.
China Evergrande To Raise $2B In Pre-IPO For Property, Car Marketplace Unit China Evergrande Group on Monday said it will sell 10% of its online real estate and automobile marketplace, Fangchebao (FCB), to 17 investors for HK$16.35 billion ($2.10 billion), in fundraising ahead of the unit’s initial public offering (IPO).
ByteDance Gaming Unit Agrees to Acquire Mobile Legends Developer Moonton ByteDance said on Monday that its gaming subsidiary Nuverse has signed an agreement to acquire Moonton, a Shanghai-based mobile game developer focusing on overseas markets, in the latest demonstration of the TikTok owner’s commitment to the competitive but lucrative gaming business.
Baidu Launches New Apollo Park In Guangzhou To Boost Self-Driving Ambition Baidu, the Chinese search engine giant, has put into operation its second Apollo Park, an industrial complex that the company said could provide a boost to its ongoing efforts to commercialize its smart transportation technologies and build on its increasing focus on artificial intelligence.