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Startups

TC Roundup: Alibaba revenue beats estimates, CEO Lu to step down

7 May, 2015

Alibaba revenue beats estimates, CEO Lu to step down: Alibaba Group Holding Ltd's (BABA.N) quarterly revenue rose 45 percent, beating analysts' expectations, as the Chinese e-commerce company reported a jump in gross merchandise volume.

Alibaba's American depository shares were up 7.5 percent at $86 in premarket trading. (Reuters)

Scrutiny of Uber gears up in China: Authorities in the southwestern Chinese city of Chengdu visited the local office of Uber Technologies Inc. Wednesday afternoon. (The Wall Street Journal)

How a con man stole millions slling fake Facebook shares: The pitch seemed irresistible: Here was a chance to connect with a money man for billionaire Carlos Slim.

But the supposed financial whiz, who called himself Ken Dennis, wasn't who he said he was, authorities now claim. In truth, he's Troy Stratos -- and is now standing trial in a bizarre fraud case that provides a glimpse into how money and influence flow through Silicon Valley. (Bloomberg)

State Department official blasts Hillary Clinton's private email system as 'not acceptable': The State Department's chief freedom of information officer blasted the use of private email by former Secretary of State Hillary Clinton as "not acceptable." (Venture Beat)