Robyn Mak joined Reuters Breakingviews in 2013. Previously, she was a Research Associate for the Global Policy Programs at the Asia Society in New York where she focused on US-Iran relations, US-Myanmar relations and sustainability issues in Asia. She has also worked as a researcher at the Carnegie Endowment for International Peace in Washington DC and interned at several consulting firms, including the Albright Stonebridge Group. She holds a masters degree in international economics and international relations from the Johns Hopkins School of Advanced International Studies and is a magna cum laude graduate of New York University.
South Korea's e-commerce darling is seeking a $50 bln valuation. It boasts heady growth and hefty losses. Metrics such as fulfillment costs, reported by peers like Amazon, are missing from its prospectus, though. Scant detail on new bets also makes the IPO math hard to justify.
Shares in $8 bln Seek tanked 14% on plans to break in two, lose its founder-CEO and cut its prized stake in Zhaopin. At 14 times EBITDA, the sale values the Chinese unit in line with rivals but lower than Seek’s frothy multiple. Management and investors both deserve a bad review.
The $160 bln web retailer is spinning off its logistics arm. Upgraded delivery systems have supported an online shopping boom that is driving yet more growth in the sector: a virtuous cycle. JD's high-tech operation and shrinking losses should excite investors.