Tech

Nationalist flame wars will singe China Inc

14 Jul 2021

Angry users are ditching Didi’s ride-hailing app for alleged data leaks to foreigners. Patriotic extremism has stung overseas brands like H&M; now it’s turning on domestic companies, sometimes with official encouragement. It sets a dangerous precedent that could get out of hand.

Swedish tech investor benefits by slimming down

12 Jul 2021

Most listed investment firms trade at a discount to the net value of their assets. Kinnevik’s recent decision to hand its stake in e-tailer Zalando to shareholders has made it an exception. Shedding future winners from its $9 bln portfolio will be vital to preserving its status.

Self-driving truck race suffers from major traffic

23 Jun 2021

Embark, which automates big rigs, is worth $5.2 bln in a SPAC deal with smart-money PIPE investors and Trump’s former transport boss on the board. Its strategy might please shippers and truck-makers. The valuation isn’t bad. But competitive and regulatory roadblocks lie ahead.

Didi embarks on ultimate IPO road-test

11 Jun 2021

The Beijing-based ride-hailing giant, last valued at $62 bln, unveiled plans to go public in New York. It’s growing quickly, but cruising into record-high markets, U.S. political pressure on Chinese issuers and tech crackdowns at home. The fare could be steep for new investors.

India is well placed to fight G7 tax deal’s flaws

10 Jun 2021

The country wants to charge big tech companies on the basis of local revenue or users, rather than profit. A rich-nation plan offers little on this front. India’s 1.3 bln population and relative openness to foreign companies give it good ground to push for fairer digital levies.

Indian tech braces for its second coming of age

10 Jun 2021

Super-cheap mobile data, banking for all and a biometric ID system enabled food delivery app Zomato and fintech star Paytm to grow fast. Foreign capital helped too. As India gets picky about funding and business models evolve, an upcoming stack of IPOs spotlight new challenges.

South Korean self-driving deal spins its wheels

10 Jun 2021

Car-parts maker Mando has the right general idea carving out its autonomous-tech unit into a new business. But the company is keeping full control and not raising any new money. That may yet change. For now, though, the partial overhaul offers shareholders a shabby ride.

Software deal contains two-sided logic errors

7 Jun 2021

Sydney-listed Altium spurned a $3.9 bln takeover bid from larger U.S. peer Autodesk. It’s an odd response given recent struggles and the chunky 42% premium on offer. The maths doesn’t compute for the suitor either. In wild M&A markets, such behaviour is a feature rather than a bug.