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  • Trending on the Ticker

  • Short seller Muddy Waters Research claims China-based social video platform Joyy, which is listed on the Nasdaq, is a “multibillion-dollar fraud”; the report alleges ~90 percent of revenue attributed to Joy’s YY video streaming service is fabricated, and that nearly all its users are bots; Baidu recently announced a $3.6B deal to acquire YY - Link

    Update: Joyy’s shares drop more than 26 percent in early trading, reducing the firm’s market cap by ~$2B; Joyy says Muddy Waters’ report is filled with errors and claims the company does not understand its business - Link

  • UK-based EV company Arrival announces a deal to go public via a SPAC arrangement with US outfit CIIG Merger Corp; the combined firm is expected to raise $660M on a $5.4B valuation; Arrival was last valued at ~$3.5B; the merger is expected to close in early 2021; Arrival produces all-electric buses and vans - Link

  • Tencent Music acquires a minority stake in Los Angeles-based virtual concerts platform Wave; financial terms undisclosed; Wave offers live streaming events where artists and fans are represented as digital avatars; as part of the deal, Tencent Music gains the rights to broadcast such concerts in China; additionally, Wave will power exclusive shows for Tencent Music’s TME Live brand - Link

  • This Week in Startups

    Jason speaks with California Labs Founder and CEO Brian Gannon about Loop v2 and its new features, lessons learned between versions 1.0 and 2.0, the secret to growing a premium hardware company, Amazon Basics and other competitors, more; then, Jason answers viewer questions about selling shares in secondary markets, how the new accreditation laws will impact startups, more - Link

  • Fintech startup Chipper Cash raises $30M Series B led by Ribbit Capital with participation from Bezos Expeditions; the company offers mobile-centric peer-to-peer payment across seven African nations including Ghana, Uganda, and Nigeria; has raised $52.2M to date - Link