The initial public offering of Weibo, China’s answer to Twitter, has provoked a combination of downbeat hand wringing and gleeful hand rubbing about the effect of the global tech sell-off on new companies coming to market.
So are investors fair in how they’re pricing Weibo? The company’s shares were priced at $17 each, the bottom of the range, putting the group’s valuation at $3.8bn after raising more than double the amount it had hoped for earlier in the year.
While older industries still struggle with the digital transition, those one step ahead are toiling with the mobile one.
While Silicon Valley races ahead into a future filled with drones, robots and wearable technology, the rest of the US watches on with a mixture of hope and anxiety.
Americans are optimistic about the long-term prospects for the next 50 years of technological and scientific advances, according to a survey of 1,001 people by the Pew Research Center in February, but more nervous about the immediate future.