Graph Database Startup Vesoft Seeks Funds at $1 Billion Value
Bloomberg News, Bloomberg News Rows of colored high end data cables are seen feeding into computer servers inside a comms room at a office in London, U.K., on Tuesday, Dec. 23, 2014. Vodafone Group Plc will ask telecommunications regulator Ofcom to guarantee that U.K. wireless carriers, which rely on BT s fiber network to transmit voice and data traffic across the country, are treated fairly when BT sets prices and connects their broadcasting towers. Photographer: Bloomberg/Bloomberg , Bloomberg via Getty Images
(Bloomberg) Vesoft Inc. is planning a new funding round that could bolster the Chinese graph database technology startupâs valuation to almost $1 billion, according to its founder and Chief Executive Officer Sherman Ye.
(Bloomberg) Singapore’s richest property dynasty vowed to get back on course after a S$1.78 billion ($1.3 billion) writedown on a Chinese deal led to a record annual loss.City Developments Ltd.’s net loss of S$1.9 billion for the year ended Dec. 31 was its first since the early 1970s, thanks to the impairment on its investment in China’s Sincere Property Group.“We must now forget about all these old subjects,” Chairman Kwek Leng Beng said at a briefing on the results Friday. “I want to go to the next chapter to grow the company. I don’t want to keep talking about Sincere.”While the pandemic has also battered its hotel revenue and rental income, the acquisition of a majority stake in Chongqing-based Sincere last April has proved to be an onerous investment, creating a rift in a family dynasty that’s worth $16.5 billion, according to last year’s Bloomberg Billionaires Index list of Asia’s richest clans. Three
Faris Mokhtar, Bloomberg News
(Bloomberg) Singaporeâs richest property dynastyâs earnings took a severe hit last year, in part due to its contentious investment in a Chinese developer that has driven a rift in the billionaire family.
City Developments Ltd. posted a net loss of S$1.9 billion ($1.4 billion) for the year ended Dec. 31, it said in a statement Friday. While the pandemic has battered its hotel revenue and rental income, the company also posted an impairment loss of S$1.78 billion from its investment in Chinaâs Sincere Property Group.
Since CDL acquired a majority stake in Chongqing-based Sincere last April, the Chinese property firm has proved to be an onerous investment, creating a rift in a family dynasty thatâs worth $16.5 billion, according to last yearâs Bloomberg Billionaires Index list of Asiaâs richest clans. Three CDL directors, including the cousin of the firmâs chairman, have resigned in disagreement over the Sincere deal,