Jack Ma joins $1b investment in VC-backed Wasu Media
Alibaba Group founder Jack Ma and several co-investors have agreed to buy a 20% stake in Wasu Media Holdings, a Hangzhou-based digital media operator backed by several VC firms, for RMB6.54 billion ($1.06 billion).
According to a regulatory filing, Hangzhou Yunxi Investment Partnership, an investment vehicle controlled by Ma and Simon Xie, co-founder of Alibaba, will subscribe to 286 million shares issued by Wasu...
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