First Western Capital Management Company Position in Boeing Co (BA) Has Cut by $383824 as …

… ON REPORT THAT BOEING TIE UP CLOSER; 07/05/2018 – Paul R. La Monica: Rumor has it Musk and The Boring Company will be building a new …

The Boeing Company (NYSE:BA) Logo

First Western Capital Management Company decreased its stake in Boeing Co (BA) by 47.72% based on its latest 2018Q4 regulatory filing with the SEC. First Western Capital Management Company sold 1,192 shares as the company’s stock rose 29.74% with the market. The hedge fund held 1,306 shares of the aerospace company at the end of 2018Q4, valued at $421,000, down from 2,498 at the end of the previous reported quarter. First Western Capital Management Company who had been investing in Boeing Co for a number of months, seems to be less bullish one the $211.79B market cap company. The stock decreased 6.29% or $25.15 during the last trading session, reaching $374.86. About 20.03M shares traded or 319.10% up from the average. The Boeing Company (NYSE:BA) has risen 23.74% since March 12, 2018 and is uptrending. It has outperformed by 19.37% the S&P500. Some Historical BA News: 14/03/2018 – Dow drops more than 200 points, led by Boeing on fears of a China trade war; 05/05/2018 – First NASA lander to study Mars’ interior due for California launch; 12/04/2018 – Boeing CEO Takes Playful Jab at Musk’s Rocket-Launched Tesla; 12/04/2018 – Boeing Joins Saab in Race for World’s Biggest Fighter Jet Deal; 15/05/2018 – Boeing Calls WTO Decision ‘Landmark Ruling’; 17/04/2018 – BOEING – BOEING TECHNICAL TEAM PROVIDING ASSISTANCE AT REQUEST AND UNDER DIRECTION OF U.S. NTSB AS THE AGENCY CONDUCTS ITS INVESTIGATION; 17/04/2018 – U.S. to announce new weapons export policy on Thursday; 12/04/2018 – EMBRAER ADRS FALL ON REPORT THAT BOEING TIE UP CLOSER; 07/05/2018 – Paul R. La Monica: Rumor has it Musk and The Boring Company will be building a new Tunnel Force One for Trump to replace the; 08/03/2018 – CNBC Wires: EXCLUSIVE-Boeing has ‘cash horsepower’ for targeted acquisitions-CEO

Dana Investment Advisors Inc increased its stake in T Mobile Us Inc (TMUS) by 6.6% based on its latest 2018Q4 regulatory filing with the SEC. Dana Investment Advisors Inc bought 31,426 shares as the company’s stock rose 3.96% with the market. The institutional investor held 507,597 shares of the public utilities company at the end of 2018Q4, valued at $32.29M, up from 476,171 at the end of the previous reported quarter. Dana Investment Advisors Inc who had been investing in T Mobile Us Inc for a number of months, seems to be bullish on the $61.17B market cap company. The stock increased 0.67% or $0.48 during the last trading session, reaching $71.95. About 996,282 shares traded. T-Mobile US, Inc. (NYSE:TMUS) has risen 15.75% since March 12, 2018 and is uptrending. It has outperformed by 11.38% the S&P500. Some Historical TMUS News: 15/03/2018 – T-Mobile Takes Flight, Sets Two World Records with Galaxy S9, S9+; 27/04/2018 – Dealbook: Sprint and T-Mobile Are Said to Be Close to a Merger to Compete at the Top; 10/04/2018 – Sprint in new talks to merge with T-Mobile; 27/04/2018 – T-MOBILE, SPRINT ARE SAID NEARING DEAL AT ~$6.50/SHR: CNBC; 30/04/2018 – Sprint, T-Mobile slide after megamerger announcement; 29/04/2018 – T-Mobile CEO Legere Would Run Combined Company; 30/04/2018 – Moody’s: Negative Outlook Reflects Execution Risk in the Integration of TMUS and Sprint; 27/04/2018 – T-Mobile and Sprint reportedly aim to seal merger deal next week; 29/04/2018 – Moody’s Affirms T-Mobile’s Cfr, Places Unsecured Ratings On Review For Downgrade Following Announcement To Merge With Sprint; 01/05/2018 – T-Mobile Celebrates 5 Years as a Public Company with Record-Low Churn, Industry-Leading Customer Growth, and Strong

Since October 29, 2018, it had 0 buys, and 13 sales for $53.53 million activity. Shares for $873,712 were sold by COLBERT THEODORE III. RAMOS JENETTE E had sold 1,640 shares worth $602,733. 26,557 The Boeing Company (NYSE:BA) shares with value of $10.50M were sold by KEATING TIMOTHY JOHN. Smith Gregory D sold $7.83 million worth of stock or 19,500 shares. LUTTIG J MICHAEL sold $3.49M worth of The Boeing Company (NYSE:BA) on Tuesday, February 12. Another trade for 5,000 shares valued at $1.75M was sold by Sands Diana L.

Analysts await The Boeing Company (NYSE:BA) to report earnings on April, 24. They expect $4.25 EPS, up 16.76% or $0.61 from last year’s $3.64 per share. BA’s profit will be $2.40 billion for 22.05 P/E if the $4.25 EPS becomes a reality. After $5.48 actual EPS reported by The Boeing Company for the previous quarter, Wall Street now forecasts -22.45% negative EPS growth.

Investors sentiment increased to 1.02 in Q4 2018. Its up 0.02, from 1 in 2018Q3. It increased, as 64 investors sold BA shares while 550 reduced holdings. 150 funds opened positions while 479 raised stakes. 386.86 million shares or 11.47% more from 347.06 million shares in 2018Q3 were reported. Bellecapital Ltd accumulated 1,550 shares. Hirtle Callaghan Commerce Limited Co has invested 0.23% in The Boeing Company (NYSE:BA). Bancorp stated it has 0.9% in The Boeing Company (NYSE:BA). Bingham Osborn Scarborough Limited Liability has invested 0.12% in The Boeing Company (NYSE:BA). Aureus Asset Mngmt Ltd Llc holds 0.42% or 8,324 shares. Brown Advisory Incorporated has 0.04% invested in The Boeing Company (NYSE:BA) for 39,101 shares. Lodestar Invest Counsel Ltd Com Il invested in 0.19% or 4,824 shares. Keystone Planning Incorporated invested in 14,208 shares. Hartford Financial holds 0.76% or 6,134 shares. Matarin Cap Management Ltd Llc has 0% invested in The Boeing Company (NYSE:BA). Ims holds 1.15% or 3,814 shares in its portfolio. Fcg Advisors Ltd Liability, a New Jersey-based fund reported 1,250 shares. Beck Capital Mngmt Ltd Limited Liability Company owns 2.37% invested in The Boeing Company (NYSE:BA) for 8,589 shares. Interactive Fincl has 0.05% invested in The Boeing Company (NYSE:BA). Meridian Inv Counsel stated it has 0.4% in The Boeing Company (NYSE:BA).

More notable recent The Boeing Company (NYSE:BA) news were published by: Seekingalpha.com which released: “First dent to Boeing’s 737 MAX order book? – Seeking Alpha” on March 12, 2019, also Benzinga.com with their article: “Boeing Company (The) (NYSE:BA) – Boeing Acquires Aviation Software Company ForeFlight – Benzinga” published on March 07, 2019, Livetradingnews.com published: “The Boeing Company (NYSE:BA) slips after Qatar Airways said it was not interested in the planemaker’s mid-sized aircraft – Live Trading News” on March 07, 2019. More interesting news about The Boeing Company (NYSE:BA) were released by: Benzinga.com and their article: “Apple Inc. (NASDAQ:AAPL), Boeing Company (The) (NYSE:BA) – Boeing Dragging Down DJIA, But Signs Of Positive Action Elsewhere On Data, China – Benzinga” published on March 11, 2019 as well as Seekingalpha.com‘s news article titled: “Should You Be Boarding Boeing? – Seeking Alpha” with publication date: March 11, 2019.

More notable recent T-Mobile US, Inc. (NASDAQ:TMUS) news were published by: Fool.com which released: “T-Mobile Adds 2.4 Million New Customers – Motley Fool” on February 12, 2019, also Seekingalpha.com with their article: “In The T-Mobile And Sprint Merger, Bet On Magenta – Seeking Alpha” published on February 19, 2019, Nasdaq.com published: “Better Buy: AT&T vs. T-Mobile – Nasdaq” on February 24, 2019. More interesting news about T-Mobile US, Inc. (NASDAQ:TMUS) were released by: Bizjournals.com and their article: “How Circle Media parlayed a partnership into $20M – Portland Business Journal” published on February 25, 2019 as well as Streetinsider.com‘s news article titled: “UPDATE: DISH Network (DISH) Added to Guggenheim Best Ideas List, Removes T-Mobile (TMUS) – StreetInsider.com” with publication date: March 04, 2019.

T-Mobile US, Inc. (NASDAQ:TMUS) Institutional Positions Chart

Receive News & Ratings Via Email – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings with our FREE daily email newsletter.

Related Posts:

  • No Related Posts

TikTok App Creator Beat Facebook At Its Own Game And Became A Billionaire

Today, Softbank Group is reportedly joining KKR, General Atlantic, and Sequoia as backers with a $1.5 billion investment in ByteDance.

You may not know about TikTok an app that is a hit amongst teenagers. TikTok has been downloaded from the Apple App Store and GooglePlay by 39.6 million users since early November. It was the most downloaded social app in the U.S. in December. Just a few weeks ago, TikTok was downloaded more than Instagram and surpassed one billion downloads. The app allows users to create short videos set to songs – much like Facebook’s Lasso, except TikTok is way more popular. Lasso has been downloaded by just around 70,000 users. It seems TikTok is beating Facebook at its own game. Traditionally, Facebook just copied rivals to get rid of them. They did that to Google+ and Snapchat. But the social media giant’s effort to quash TikTok is failing. The company behind TikTok is China-based ByteDance. It has a valuation of $75 billion making it the most valuable startup in the world.

Zhang Yiming is the 35-year-old founder ByteDance. The $75 billion valuation of his company surpasses that of Uber, making it, as mentioned, the most valuable startup in the world – and it has done that in China without taking money from Jack Ma‘s Alibaba Group or Pony Ma‘s Tencent – which is hard to do! The story of how Zhang built ByteDance into a giant starts with the news site Jinri Toutiao—but is more closely tied to a series of acquisitions and expansions that have pushed the company into mobile video (TikTok) and given it users far beyond the borders of China. By collecting and nurturing a successful group of apps, ByteDance has put together a force of hundreds of millions of users. With this base, it can challenge the largest internet operators in China. The company is into everything from the video service TikTok to jokes to celebrity gossip.

AFP/Getty Images

Back in 2012, Zhang was shopping around the idea of a news aggregation app powered by AI. Investors, including Sequoia Capital, were very skeptical. Investors questioned how a locally trained software engineer could outwit the many news portals already out there and run by much larger entities like Tencent. How could Zhang make any profit when the mighty Google had failed to do so in China?

Zhang proved those early skeptics wrong. Today, Softbank Group is reportedly joining KKR, General Atlantic, and Sequoia as backers with a $1.5 billion investment in ByteDance. The company’s lofty valuation comes from the fact that it has built itself to be a cross between Facebook and Google in terms of user experience.

Despite the valuation and the enormous user base, ByteDance has yet to turn a profit. China’s internet is in a weird place with its internet usage and growth. The time each person spends online has slowed dramatically. The costs for acquiring users and getting them to spend time on your site is increasing, according to an analyst with UBS. ByteDance stands out because it created a group of apps that are very good at attracting users and keeping them glued to their apps.

ByteDance is also the most successful major Chinese tech company to create an international user base. TikTok is popular not just in the U.S. but also in Southeast Asia and Japan. Even Tencent’s WeChat, the most popular messaging app in China, had to give up on its overseas expansion.

Back in 2012, what Zhang set out to do was to make it easier for mobile users in China to find info. That is a hard proposition in a country with draconian censorship laws. He couldn’t fight the country’s censorship laws, not really. But he did. ByteDance has been repeatedly called out by authorities by failing to filter content and has been forced to clean up its act many, many times. However, Zhang held onto his early vision of delivering content that was important to users through AI—sort of like Facebook’s news feed.

When no one believed in his vision, Zhang eventually secured capital from Susquehanna International Group and his news app debuted in August 2012. The platform studied what users read and searched for and then referred them to information and articles based on their habits. The more people that used it, the better at predicting what would be interesting to them the platform became. The better it was at delivering relevant content, the longer users stayed on the site. By the middle of 2014, Zhang’s news site had 13 million daily active users and Sequoia finally came to the table and led a $100 million funding round.

However, it was video that really put ByteDance into the big time. Streaming services have always been popular in China dating back to the desktop era. YY Inc. offered a platform where people sang and danced in virtual showrooms to win online gifts from fans. ByteDance took that concept but made the videos on TikTok (called Douyin in China) much shorter – 15 seconds. TikTok launched in September 2016. The app lets users shoot and edit video, add filters and share them across platforms. The format became an instant it. In fact, it was so successful that WeChat blocked access to the app from within their app.

Zhang’s challenge, now that he’s worth $16.2 billion, is to translate buzz and viewership into dollars. Something tells us he’s not only up for the challenge, but already has plans for how exactly to do that.

Related Posts:

  • No Related Posts

Global Voice Recognition System market illuminated by new report

The key players covered in this study Nuance Microsoft Alphabet Apple Sensory Voicebox Inago Lumenvox Vocalzoom Market segment by Type, the …

– Advertising –

This report focuses on the global Voice Recognition System status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Voice Recognition System development in United States, Europe and China. The key players covered in this study Nuance Microsoft Alphabet Apple Sensory Voicebox Inago Lumenvox Vocalzoom Market segment by Type, the product can be split into BEV ICE Others (Hybrid) Market segment by Application, split into Artificial Intelligence Non-Artificial Intelligence Market segment by Regions/Countries, this report covers United States Europe China Japan Southeast Asia India Central & South America The study objectives of this report are: To analyze global Voice Recognition System status, future forecast, growth opportunity, key market and key players. To present the Voice Recognition System development in United States, Europe and China. To strategically profile the key players and comprehensively analyze their development plan and strategies. To define, describe and forecast the market by product type, market and key regions. In this study, the years considered to estimate the market size of Voice Recognition System are as follows: History Year: 2013-2017 Base Year: 2017 Estimated Year: 2018 Forecast Year 2018 to 2025 For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Report:

www.marketdensity.com/contact?ref=…mp;reportid=52947

Table of Contents:

Table of Contents1 Report Overview

1.1 Study Scope

1.2 Key Market Segments

1.3 Players Covered

1.4 Market Analysis by Type

1.4.1 Global Voice Recognition System Market Size Growth Rate by Type (2013-2025)

1.4.2 BEV

1.4.3 ICE

1.4.4 Others (Hybrid)

1.5 Market by Application

1.5.1 Global Voice Recognition System Market Share by Application (2013-2025)

1.5.2 Artificial Intelligence

1.5.3 Non-Artificial Intelligence

1.6 Study Objectives

1.7 Years Considered2 Global Growth Trends

2.1 Voice Recognition System Market Size

2.2 Voice Recognition System Growth Trends by Regions

2.2.1 Voice Recognition System Market Size by Regions (2013-2025)

2.2.2 Voice Recognition System Market Share by Regions (2013-2018)

2.3 Industry Trends

2.3.1 Market Top Trends

2.3.2 Market Drivers

2.3.3 Market Opportunities3 Market Share by Key Players

3.1 Voice Recognition System Market Size by Manufacturers

3.1.1 Global Voice Recognition System Revenue by Manufacturers (2013-2018)

3.1.2 Global Voice Recognition System Revenue Market Share by Manufacturers (2013-2018)

3.1.3 Global Voice Recognition System Market Concentration Ratio (CR5 and HHI)

3.2 Voice Recognition System Key Players Head office and Area Served

3.3 Key Players Voice Recognition System Product/Solution/Service

3.4 Date of Enter into Voice Recognition System Market

3.5 Mergers & Acquisitions, Expansion Plans4 Breakdown Data by Type and Application

4.1 Global Voice Recognition System Market Size by Type (2013-2018)

4.2 Global Voice Recognition System Market Size by Application (2013-2018)5 United States

5.1 United States Voice Recognition System Market Size (2013-2018)

5.2 Voice Recognition System Key Players in United States

5.3 United States Voice Recognition System Market Size by Type

5.4 United States Voice Recognition System Market Size by Application6 Europe

6.1 Europe Voice Recognition System Market Size (2013-2018)

6.2 Voice Recognition System Key Players in Europe

6.3 Europe Voice Recognition System Market Size by Type

6.4 Europe Voice Recognition System Market Size by Application7 China

7.1 China Voice Recognition System Market Size (2013-2018)

7.2 Voice Recognition System Key Players in China

7.3 China Voice Recognition System Market Size by Type

7.4 China Voice Recognition System Market Size by Application8 Japan

8.1 Japan Voice Recognition System Market Size (2013-2018)

8.2 Voice Recognition System Key Players in Japan

8.3 Japan Voice Recognition System Market Size by Type

8.4 Japan Voice Recognition System Market Size by Application9 Southeast Asia

9.1 Southeast Asia Voice Recognition System Market Size (2013-2018)

9.2 Voice Recognition System Key Players in Southeast Asia

9.3 Southeast Asia Voice Recognition System Market Size by Type

9.4 Southeast Asia Voice Recognition System Market Size by Application10 India

10.1 India Voice Recognition System Market Size (2013-2018)

10.2 Voice Recognition System Key Players in India

10.3 India Voice Recognition System Market Size by Type

10.4 India Voice Recognition System Market Size by Application11 Central & South America

11.1 Central & South America Voice Recognition System Market Size (2013-2018)

11.2 Voice Recognition System Key Players in Central & South America

11.3 Central & South America Voice Recognition System Market Size by Type

11.4 Central & South America Voice Recognition System Market Size by Application12 International Players Profiles

12.1 Nuance

12.1.1 Nuance Company Details

12.1.2 Company Description and Business Overview

12.1.3 Voice Recognition System Introduction

12.1.4 Nuance Revenue in Voice Recognition System Business (2013-2018)

12.1.5 Nuance Recent Development

12.2 Microsoft

12.2.1 Microsoft Company Details

12.2.2 Company Description and Business Overview

12.2.3 Voice Recognition System Introduction

12.2.4 Microsoft Revenue in Voice Recognition System Business (2013-2018)

12.2.5 Microsoft Recent Development

12.3 Alphabet

12.3.1 Alphabet Company Details

12.3.2 Company Description and Business Overview

12.3.3 Voice Recognition System Introduction

12.3.4 Alphabet Revenue in Voice Recognition System Business (2013-2018)

12.3.5 Alphabet Recent Development

12.4 Apple

12.4.1 Apple Company Details

12.4.2 Company Description and Business Overview

12.4.3 Voice Recognition System Introduction

12.4.4 Apple Revenue in Voice Recognition System Business (2013-2018)

12.4.5 Apple Recent Development

12.5 Sensory

12.5.1 Sensory Company Details

12.5.2 Company Description and Business Overview

12.5.3 Voice Recognition System Introduction

12.5.4 Sensory Revenue in Voice Recognition System Business (2013-2018)

12.5.5 Sensory Recent Development

12.6 Voicebox

12.6.1 Voicebox Company Details

12.6.2 Company Description and Business Overview

12.6.3 Voice Recognition System Introduction

12.6.4 Voicebox Revenue in Voice Recognition System Business (2013-2018)

12.6.5 Voicebox Recent Development

12.7 Inago

12.7.1 Inago Company Details

12.7.2 Company Description and Business Overview

12.7.3 Voice Recognition System Introduction

12.7.4 Inago Revenue in Voice Recognition System Business (2013-2018)

12.7.5 Inago Recent Development

12.8 Lumenvox

12.8.1 Lumenvox Company Details

12.8.2 Company Description and Business Overview

12.8.3 Voice Recognition System Introduction

12.8.4 Lumenvox Revenue in Voice Recognition System Business (2013-2018)

12.8.5 Lumenvox Recent Development

12.9 Vocalzoom

12.9.1 Vocalzoom Company Details

12.9.2 Company Description and Business Overview

12.9.3 Voice Recognition System Introduction

12.9.4 Vocalzoom Revenue in Voice Recognition System Business (2013-2018)

12.9.5 Vocalzoom Recent Development13 Market Forecast 2018-2025

13.1 Market Size Forecast by Regions

13.2 United States

13.3 Europe

13.4 China

13.5 Japan

13.6 Southeast Asia

13.7 India

13.8 Central & South America

13.9 Market Size Forecast by Product (2018-2025)

13.10 Market Size Forecast by Application (2018-2025)14 Analyst’s Viewpoints/Conclusions15 Appendix

15.1 Research Methodology

15.1.1 Methodology/Research Approach

15.1.1.1 Research Programs/Design

15.1.1.2 Market Size Estimation

12.1.1.3 Market Breakdown and Data Triangulation

15.1.2 Data Source

15.1.2.1 Secondary Sources

15.1.2.2 Primary Sources

15.2 Disclaimer

15.3 Author Details

Report:

www.marketdensity.com/global-voice-recognition-system-market-size-status-and-forecast

News From

Market DensityMarket Density

Category: Market Research Publishers and RetailersCompany about: Market Density is your one stop market research and industry analysis reports’ library providing business data and intelligence information on thousands of micro markets with global as well as regional coverage. Market Density offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Market Density understands how essential statistical surveying information is for your organization or association. Th
This email address is being protected from spambots. You need JavaScript enabled to view it.

For more information:

Related Posts:

  • No Related Posts

Shanghai-based Mollybox secures $13m Series B from DCM, Digitalis

Shanghai-based Mollybox secures $13m Series B from DCM, Digitalis … co-led by DCM and Mars-backed venture capital Digitalis with participation …
March 12, 2019

Mollybox, a cat food e-commerce platform run by Xolo (Cayman) Limited, has secured $13 million in a Series B financing round, co-led by DCM and Mars-backed venture capital Digitalis with participation from Unity Ventures, Seek Ventures, FJ Labs, Tekton Ventures and Long Capital.

Mollybox plans to use the funding to support its expansion of monthly ‘Surprise Box’ product, according to its announcement on Monday.

The startup has developed a unique business model in China’s pet food sector by launching a subscription-based service, which allows users to purchase through monthly, quarterly and annual subscription programmes.

Mollybox sends owners a ‘Surprise Box’ every month with various kinds of cat snacks and nutrition products to let customers explore its new range.

“With the continued trend of urbanization in China, our prospects continue to be very good. More and more young people are starting to keep pets. This is a good environment in which a subscription-based service can expand its business,” said Mollybox founder and CEO Ju Yi.

Mollybox currently serves around 30,000 subscribers, up from less than 2,000 subscribers in 2017. Meanwhile, it claims that its highest monthly turnover also surged from 1.8 million yuan in 2017 to 20 million yuan in 2018.

“After enabling the auto pay feature, we expect to achieve a user base of 200,000 subscribers in 2019 with the total sales income reaching 330 million yuan,” added Ju Yi.

Mollybox received 2 million yuan in its angel round from Unity Ventures in 2016, and landed 4.2 million yuan in a pre-Series A round from Unity Ventures, Long Capital and Hexi Capital in 2017.

In January 2018, the company completed its Series A financing with $3.8 million investment from DCM, Atom Ventures and Unity Ventures.

Also read:

SFERS approves commitments to Hillhouse, DCM Ventures’ latest funds

China’s Qiming Venture leads $20m Series C round in pet product startup PETKIT

Related Posts:

  • No Related Posts

Warburg-Backed Mofang Apartments Raises $150M in Caisse-Led Funding Round

Warburg Pincus led that investment together with Sequoia Capital China and mainland tech giant Tencent. Mainland property developer Sunac also …
Mofang apartments

Most Mofang apartments are said to include the fourth wall

Warburg Pincus-backed Mofang Apartments has closed on a $150 million funding round, led by Canadian fund manager, Caisse de dépôt et placement du Québec (CDPQ), according to an announcement on Monday by the Shanghai-based apartment provider.

Mofang, which manages 70,000 long-term rental apartments across China, will be using the fresh cash to fuel acquisitions in the mainland’s rapidly developing rental housing sectors, as well as in developing a franchise business and for general operating capital, according to the company’s statement.

The rental apartment manager, which is operated by mainland hotel entrepreneur Alex Zheng, counts Warburg Pincus as its largest shareholder, has now raised a total of $550 million since opening for business in 2010. The investment by Caisse, which manages C$309.5 billion ($231 million) in net assets is the latest show of interest in China’s rental housing by a major international institution.

Building on a 20 City Portfolio

Caisse Lim Meng Ann

Caisse’s Lim Meng Ann is backing Mofang as China’s rental housing players consolidate

“Mofang is a promising company and is the leader in the long-term apartment rental market, whose team has strong expertise in operations, project development and M&A,” Lim Meng Ann, Head of Private Equity for Asia Pacific at Caisse said in a statement. The high level of public recognition and professional operational capability of Mofang has made it a success in 20 major cities across the country. We look forward to working alongside fellow investor Warburg Pincus as well as the leadership team of Mofang to further consolidate its industry leadership position.”

China’s rental housing market has grown rapidly in the past three years as the government has encouraged the sector as safety valve against rising home prices in major cities and to enable an increasingly mobile professional class.

Mofang, which previously raised $300 million from mainland fund manager AVIC Trust in 2016, has been using at least some of that cash to build out its portfolio of apartments, which are aimed at recent graduates and other professionals needing accessible housing from an organised service provider.

In first tier cities such as Shanghai and Beijing, the company’s rental units are available starting at prices of around RMB 5,000 ($745) per month, while in second or third tier cities its apartments can be leased for around RMB 3,000 per month.

Hotel Veteran Builds Rental Housing Business

Alex Zheng_Mofang

Mofang chairman Alex Zheng had worked with Warburg Pincus at 7-Days Inns

“Mofang has helped to usher in a new era for accommodations solutions in China by transforming under-utilized properties into incremental rental housing for urban residents.” Mofang chairman Alex Zheng said. “Mofang will also seek to strengthen cooperation with government and other industry players, actively participate in the construction of urban apartments for professionals and operations of public rental housing, support entrepreneurship, and improve the living conditions of the city residents.”

Under its asset-light approach, Mofang typically takes long-term leases for entire commercial or industrial buildings from landlords, renovates them and then manages the leasing to tenants.

With startups crowding into the rental housing market in the past few years, Mofang has used its access to capital to acquire stakes in complementary players, including buying into Guangzhou-based Wowqu and Shanghai-based youth apartment provider V-Land within the last year. V-Land reportedly raised $200 million in a Warburg Pincus-led series A round which closed in April last year.

A former C-Trip employee, Zheng made his fortune by founding 7-Days Inn, one of China’s early budget hotel chains, which Warburg Pincus began backing in 2007.

Pursuing a Franchise Model

Unlike Warburg rental housing stablemates Nova in Shanghai and Weave in Hong Kong, Mofang has avoided putting capital into buying properties and more recently has begun pursuing a franchise model, which would allow it to partner with developers and local governments to expand its portfolio of managed properties.

“We are very impressed and satisfied with Mofang’s development in the last six years since we first invested in the company in 2013,” Warburg Pincus managing director Joseph Gagnon said in the statement. “Having a well-known and reputable investor like CDPQ will help Mofang accelerate its development and further consolidate its leadership position. Warburg Pincus will continue to support Mofang’s future development through various means, including real estate financing and property resources.”

In addition to its investments in Mofang, Nova and Weave, Warburg Pincus also last year joined a RMB 4 billion ($621 million) funding round for Lianjia-backed rental housing management firm Ziroom, according to local media reports at the time. Warburg Pincus led that investment together with Sequoia Capital China and mainland tech giant Tencent. Mainland property developer Sunac also joined the Ziroom funding round.

Monday’s statement by Mofang identifies the company as China’s largest institutional manager of apartments by the number of rooms on the market, with operations in cities including Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Wuhan, Suzhou, Hangzhou, Chengdu and Xi’an. The funding was a series D round, and in addition to Warburg Pincus, Caisse and AVIC Trust, Mofang’s investors include Shanghai-based venture capital firm DT Capital Partners.

Related Posts:

  • No Related Posts