Monday, August 2, 2021
Racepoint Global is providing video and PR services to Alibaba Group, the Chinese e-commerce giant.
China’s crackdown on its high-tech sector and the COVID-19 pandemic have hurt Alibaba’s shares, which trade on the New York Stock Exchange. They are down about 25 percent to $195.
Racepoint, which began representing Alibaba on March 22, has received a payment of $30K for its effort.
It has Allison DeLeo and Risha Tyagi working the business.
Racepoint also works for another Chinese giant, Huawei Technologies, which has been sanctioned by the US Government for alleged spying activity.
The firm collected $1.4M from Huawei during the six month period ended April 30.