The New York Stock Exchange has changed its decision, Nintendo has completed the purchase of a game development company, and a prominent Indian electronics and lifestyle brand has secured $100 million in funding. This is your Daily Crunch for January 5, 2021.

Key development: NYSE reverses delisting plans for Chinese telecom companies

The New York Stock Exchange is retracting its recent decision to remove China Mobile, China Unicom, and China Telecom from its listings. This action was initially intended to align with a policy from the previous administration aimed at restricting investment in companies connected to the Chinese military.

The exchange stated that this reversal is a result of “additional discussions with the appropriate regulatory bodies,” and trading of the shares will continue while NYSE officials determine the applicability of the executive order.

Even if the delisting were to proceed, its impact would be limited, as a relatively small proportion of the total shares of these companies are traded on the New York exchange.

Technology sector news

Nintendo acquires Canadian game studio in an unusual move — Nintendo is now the owner of Next Level Games, a Canada-based studio responsible for the development of Luigi’s Mansion 3.

Jack Ma’s public absence generates discussion on Twitter — Global attention is focused on the location of Jack Ma following reports that the Alibaba and Ant Group founder has not been seen in public since late October.

Startups, financing, and venture capital activity

P&G abandons acquisition of razor company Billie after FTC challenge — The FTC filed a lawsuit in December to prevent P&G from acquiring Billie.

Boat, an Indian electronics and lifestyle brand, receives $100M investment from Warburg Pincus — This funding round values Boat at approximately $300 million post-money.

Divvy secures $165M in a thriving spend management market — The market for corporate cards and expense management software, where Divvy operates, is experiencing significant activity.

Insights and analysis from Extra Crunch

Affirm aims for a share price of up to $38 in its IPO, resulting in a valuation exceeding $9 billion — This new S-1 filing follows a similar submission made in late December.

Eight investors share their perspectives on the greatest opportunities in social gaming — Investors conveyed enthusiasm regarding the expanding entertainment goals of social media platforms.

Segment details its core systems redesign to overcome a critical scaling challenge — Segment encountered a scaling issue as it began to gain traction in 2015.

(Extra Crunch is our subscription service, dedicated to providing accessible information about startups. You can register here.)

Other notable events

FBI and NSA attribute ongoing breaches at U.S. federal agencies to Russia — The U.S. government asserts that hackers “likely originating from Russia” are responsible for compromising the networks of at least 10 federal agencies and numerous major technology companies.

C by GE undergoes rebranding and expands its focus under new ownership — In May, General Electric divested its long-standing GE Lighting business to smart home technology company Savant.

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