Why Asia’s Tech Titans Are Investing In U.S. Startups
Asia’s wealthiest technology companies are leading a wave of investment in U.S. startups with the hope of gaining a toehold in Silicon Valley and taking some hot new products home.
Alibaba Group Holding Ltd., China’s largest online retailer, recently invested $200 million in Snapchat Inc. The investment pushed the Venice, Calif., mobile-messaging company’s value up to $15 billion. Meanwhile, Japanese e-commerce giant Rakuten put in more than $300 million in ride-hailing startup Lyft in a total funding of $530 million. See WSJ and NYT articles.