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Meituan reportedly targets $55B valuation for Hong Kong IPO, leading to concerns that may be too high

Meituan-Dianping is reportedly aiming for a $55 billion valuation in its upcoming initial public offering in Hong Kong, but the company’s net losses and increasing competition from Alibaba are already raising questions about whether that is too ambitious, despite the company’s market leadership in China. Meituan-Dianping, which bills itself as …

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Salesforce reportedly won’t cancel its contract with border agency despite employee petition

While denouncing the separation of migrant families as “inhumane,” chief executive officer Marc Benioff reportedly told employees that Salesforce will continue its contract with U.S. Customs and Border Protection (CBP) because it’s technology isn’t involved in the CBP’s U.S.-Mexico border policies. Benioff’s internal memo, obtained by Bloomberg News, was in …

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