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Former Pro Poker Player, Who Founded Asian Delivery Giant Lalamove With His Winnings, Becomes A Billionaire

March 29, 2023 by www.forbes.com

Share to Twitter Share to Linkedin C how Shing Yuk, a former professional poker player who studied economics at Stanford University, has joined the billionaire ranks, but not because he drew a lucky hand. Over the past decade, Chow, 44, has steadily built Lalamove into a logistics and delivery giant from a base in Hong Kong, backed by the likes of Neil Shen’s Sequoia China and Lei Zhang’s Hillhouse Capital. On Tuesday, Chow’s company, whose formal name is Lalatech Holdings, filed for an initial public offering in Hong Kong that revealed he owns a 25% stake through a family trust. Based on Chow’s stake and proceeds of earlier share sales, Forbes estimates, his net worth to be $2.2 billion, making him a rare startup billionaire in Hong Kong. Lalatech’s last private fundraising was a $230 million Series G round in November 2021, during the startup bubble. According to a report by technology website the Information, that round valued Lalatech at a … [Read more...] about Former Pro Poker Player, Who Founded Asian Delivery Giant Lalamove With His Winnings, Becomes A Billionaire

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