Elon Musk took control of Twitter on Thursday, completing the historic $44 billion acquisition of the social micro-blogging platform. After some housekeeping — including carrying a sink into the company’s San Francisco headquarters for a cheeky video-op (“let that sink in!”) and firing top executives including CEO Parag Agrawal — the recalcitrant tech magnate began settling into his new role. Updating his bio to reflect his chosen title of “Chief Twit,” he tweeted off a letter assuring advertisers that Twitter will not “become a free-for-all hellscape” with no content moderation. Continue reading New Era Begins for Twitter as Elon Musk Acquires Company

China is making an investment statement as it attempts to take control of its financial future and set new yen-centric standards for international monetary exchange. Much is being read into Didi Chuxing delisting itself Friday from the New York Stock Exchange, where it raised billions of dollars, capping at $39 billion for the Beijing version of Uber. The message is: with money of its own and a knack for finding more, the world’s No. 2 economy feels it no longer needs Wall Street and says it will relist on the Stock Exchange of Hong Kong. Continue reading Didi Exits NYSE for Hong Kong, China Tightens Tech Control

China put a halt to Ant Group’s two initial public offerings, leaving investors, employees and shareholders in a state of shock. The IPOs, described as “heavily oversubscribed,” was expected to raise at least $334.4 billion. The first inkling that things were going off the rails came Wednesday when some investors were informed their orders were canceled and monies would be refunded. The Shanghai Stock Exchange suspended the scheduled November 5 IPO, saying Ant might not be in compliance with new fintech regulations. Continue reading Chinese Regulators Suspend Ant IPO, Legislate New Hurdles

According to Forrester Research, many blockchain-based software projects are ending this year and 90 percent of them will never be integrated into the companies’ operations. Blockchain/cryptocurrencies advocate Nasdaq stated in 2016 that it would deploy blockchain for voting in shareholder meetings, but has yet to deploy any large-scale project. The initial enthusiasm over blockchain seems to be dying down, while some traders are manipulating cryptocurrency prices to enrich them but leave investors in the cold. Continue reading Adoption of Blockchain Technology Is Slower Than Expected

Music streaming service Spotify, which is planning its IPO for late 2017/early 2018, just signed a new global licensing deal with Warner Music Group. Terms were not disclosed. The company earlier reached long-term agreements with Universal Music Group and Sony Music; Warner was the last of the big three labels Spotify needed to go public. The online music pioneer is reportedly planning a nontraditional IPO in which it will offer shares directly to the public rather than the standard method of going through Wall Street banks. Continue reading Spotify Strikes Licensing Deal with Warner Music, Preps IPO

Nasdaq OMX, which owns the NASDAQ stock market, is trying to bolster its tech offerings by nurturing startups through its new Entrepreneurial Center. This 13,000-square-foot space in San Francisco is designed to help young companies grow and find a community. In the future, Nasdaq may be able to profit from some of these startups when they go public. Currently, Nasdaq faces stiff competition from the New York Stock Exchange in attracting tech companies to the stock market. Continue reading Nasdaq Launches an Entrepreneurial Center to Foster Startups