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MNCs in China
Beiersdorf has launched NX China, with the goal of recruiting local beauty and skincare oriented startups to join its accelerator programme. Selected startups will be able to access strategic investments from Beiersdorf’s corporate venture capital (CVC) arm, and make use of top notch product testing facilities and expert technologies from Beiersdorf’s New Research and Innovation Centre in Shanghai.
KrASIA News Picks
“When your external world is rocked by turbulence, what you can do is maintain an inner state of calm and normalcy.” Zhang Yiming’s speech for ByteDance’s 9th anniversary reveals his take on life and mindset as he leads the world’s most valuable into its future.
Reflecting on his career – from programmer, to angel investor, to Xiaomi founder – this is Lei Jun’s open letter as he embarks on “the last major entrepreneurship project” of his life.
Going Public: IPOs
Energy Monster | Debuted on NASDAQ
On 2 April, 2021, Shanghai-based Energy Monster listed on the NASDAQ in the United States under the name Smart Share Global. The initial public offering of 17.65 million American Depositary Shares (ADS) was priced at USD 8.50 per share, for gross proceeds of USD 150 million.
With 36.4% of market share in 2019, Energy Monster is the biggest player in the sector in China: some 14.8 million people accessing the service through a WeChat mini-program on a monthly basis, 36Kr reported.
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