Inside China Tech: Big week for Alibaba, Kuaishou’s trading debut pops and the firm powering social-media hit Clubhouse
- Alibaba pushes US$5 billion bond sale on the back of strong quarterly financial results and affiliate Ant Group’s overhaul plan
- Kuaishou eyes new opportunities and challenges after its blockbuster trading debut in Hong Kong
Sentiment improves for Alibaba
China kicks off antitrust probes into Alibaba over alleged monopolistic practices
Alibaba has established a special task force with leaders from relevant business units to conduct internal reviews, as part of its efforts to cooperate with the antitrust investigation under the State Administration of Market Regulation.
Alibaba says its cloud computing business holds tremendous potential as China picks up pace on digitalisation drive
Kuaishou eyes fresh opportunities, challenges
That approach pivots away from the company’s model of creating internet stars from six tight-knit clans of streamers with outsize influence online.
It remains to be seen how successful Kuaishou will be in this new direction.
Kuaishou: live-streaming e-commerce holds promise for future profitability but remains clouded by regulatory uncertainty
Nasdaq-listed Agora recently announced that an accredited investor it would not name had agreed to buy US$250 million of its newly issued class A ordinary shares through a private placement. That represents about 4.5 per cent of its total outstanding shares.
Agora provides developers simple, flexible and powerful application programming interfaces, or APIs, to embed real-time video and voice engagement experiences into their apps, according to the company.
Neither Clubhouse nor Agora have confirmed the relationship, and Agora has declined to comment. A person familiar with the matter, however, confirmed to the
that Clubhouse uses Agora.
Agora was started in 2014 by co-founders Tony Wang and Tony Zhao, formerly the chief technology officer at Chinese live-streaming giant YY