In early 2018, VC Mike Moritz wrote in the FT that “Silicon Valley would be wise to follow China’s lead,” noting the pace of work at tech companies was “furious” and that China offered “investment opportunities in the best companies.” Soon after, it all imploded. Worse, as the FT notes in a new piece, between […]
China’s autonomous vehicle startup WeRide seeks US IPO at $5B valuation
WeRide, a Chinese autonomous vehicle company, is officially gearing up for a U.S. public debut, over a year after China started easing its effective ban of foreign IPOs. The company is seeking a valuation as high as $ 5.02 billion in its initial public offering. WeRide expects to raise about $ 96 million from its offering, […]
China’s autonomous vehicle startup WeRide prepares for a US IPO
WeRide, a Chinese autonomous vehicle company, is officially gearing up for a U.S. public debut, over a year after China started easing its effective ban of foreign IPOs. WeRide registered 1 billion American Depository Receipts (ADRs) at a maximum price of $ 0.05, with the aggregate offering coming in at $ 50 million, per a […]
TechCrunch Space: China’s victory
Hello and welcome back to TechCrunch Space. Unfortunately, Boeing’s Starliner launch was delayed yet again, this time due to issues with one of the three redundant computers used by United Launch Alliance, the rocket provider, to initiate the launch sequence. Those computers are supposed to work in sync, but one of them was moving a […]
China’s $47B semiconductor fund puts chip sovereignty front and center
China has closed a third state-backed investment fund to bolster its semiconductor industry and reduce reliance on other nations, both for using and for manufacturing wafers — prioritizing what is called chip sovereignty. China’s National Integrated Circuit Industry Investment Fund, also known simply as ‘the Big Fund,’ had two previous vintages: Big Fund I (2014 […]