Newegg sold to china

[Prysin]

So despite @patrickjp93 claiming big US companies wont be sold to china because the US gov will stop the sale.... Well, either someone wasnt paying attention, or he's wrong.

 

Quote

The Wall Street Journal's earlier report about an expected record-setting 2016 in regards to chinese investment in the United States was right. Newegg Inc., one of the most popular online tech-related retailers, is now reportedly owned by chinese company Hangzhao Liaison Interactive Information Technology Co., Ltd. (Liaison Interactive).

After September's reports of a significant investment from the Chinese company on Newegg, which would allow the California-based company to "accelerate the pursuit of the company's strategic initiatives" and into high-growth markets such as eSports, VR (Virtual Reality) and AR (Augmented Reality), it now appears that the investment was much more than a simple capital infusion: it was a bid towards controlling an effective majority in the American company's shares.

The deal, with a value estimated around 17.7 billion yuan (around 2.63 billion dollars; higher than some countries' GDP), will give Liaison Interactive control of 55.7% of the California-based company. As a result, Newegg thus becomes one of Liaison Interactive's subsidiaries.

 

As a European i'm not sure if i even care

 

Source: https://www.techpowerup.com/226777/newegg-now-owned-by-chinese-company

[itsMilan]

2 minutes ago, Prysin said:

So despite @patrickjp93 claiming big US companies wont be sold to china because the US gov will stop the sale.... Well, either someone wasnt paying attention, or he's wrong.

 

 

As a European i'm not sure if i even care

 

Source: https://www.techpowerup.com/226777/newegg-now-owned-by-chinese-company

Cheaper labour and lower taxes I guess.

Sucks, but if they did their shit well we shouldn't notice.

[Bsmith]

well there goes an other company.

4 minutes ago, Prysin said:

 

As a European i'm not sure if i even care

You would be smarter of to do, because when they are done in the US they will come after us if the arabs havent been here already.
China is a big economical power and things like this make them pretty dangerous.

[jools]

I thought china owned US already

[patrickjp93]

23 minutes ago, Prysin said:

So despite @patrickjp93 claiming big US companies wont be sold to china because the US gov will stop the sale.... Well, either someone wasnt paying attention, or he's wrong.

 

 

As a European i'm not sure if i even care

 

Source: https://www.techpowerup.com/226777/newegg-now-owned-by-chinese-company

Newegg is a sales vendor, not a technology corporation at the center of vital U.S. security interests. Don't conflate things. I never said U.S. companies would not sell to China. I said those with vital national security interest wouldn't. IBM, Intel, and Nvidia will never be sold to foreign powers. Neither will Microsoft or Apple or Google. The FTC doesn't give a damn about a digital marketplace that doesn't even make up a large minority of tech sales in the U.S. (it's not even 20%). If Amazon gets sold, then it's a problem.

[Jovidah]

4 minutes ago, patrickjp93 said:

Newegg is a sales vendor, not a technology corporation at the center of vital U.S. security interests. Don't conflate things.

I agree. And not to nitpick but... newegg really isn't that big of a company. 2,6 billion dollars is pocket change.

It might look real important because we're browsing their website all that time but that doesn't mean they're really much of a deal in the bigger chess game of global power.

[rwaalph]

Well then newegg can expand here in asia kind of good news to me ??

[Sparviero]

So long New Egg. 

[NumLock21]

51 minutes ago, rwaalph said:

Well then newegg can expand here in asia kind of good news to me ??

They already have

[Misanthrope]

1 hour ago, patrickjp93 said:

Newegg is a sales vendor, not a technology corporation at the center of vital U.S. security interests. Don't conflate things. I never said U.S. companies would not sell to China. I said those with vital national security interest wouldn't. IBM, Intel, and Nvidia will never be sold to foreign powers. Neither will Microsoft or Apple or Google. The FTC doesn't give a damn about a digital marketplace that doesn't even make up a large minority of tech sales in the U.S. (it's not even 20%). If Amazon gets sold, then it's a problem.

I have to agree the operative word here is "Big" Newegg is small change in the grand scheme of things.

[Citadelen]

British companies were bought out by American companies, and now American companies are being bought out by Chinese companies, I wonder who'll buy the Chinese companies?

[Mr.Meerkat]

Quote

 will give Liaison Interactive control of 55.7% of the California-based company.

They now own part of Newegg but not all of it mate  

 

Just sayin...I would suspect the other 44.3% of shareholders are still Murican

[Citadelen]

6 minutes ago, Mr.Meerkat said:

-snip-

Majority share = effective control of the companies workings, RBS is said to be owned by the British government, but they only own 73% of it's shares, but that control gives the Treasury complete control of the bank.

Edited October 15, 2016 by Citadelen
Wrong bank oops :P

[Mr.Meerkat]

Just now, Citadelen said:

Majority share = effective control of the companies workings, the bank Lloyds is said to be owned by the British government, but they only own 70% of it's shares, but that control gives the Treasury complete control of the bank.

I know but just sayin how not all of it is sold to a Chinese business  

[BuckGup]

1 hour ago, jools said:

I thought china owned US already

Globalization, everyone ones everyone. China wouldn't have a company to buy if it wasn't for the US. Basically if china fails we fail, we fail they fail.

[potoooooooo]

They weren't bought out, the chinese company that gives them a ton of funding just increased their share from 40 something to a majority stake, 55 ish i think.

[tsk]

I guess it's Old Egg now.

[BuckGup]

40 minutes ago, Nicholatian said:

This doesn’t even make any sense. Globalisation has nothing to do with the ties and bonds the U.S. shares with China. They’re separate matters entirely.

I am saying everyone's economy plays a role in everyone else's. It can be some other country then china but when one country goes under other feel it

[AresKrieger]

 

Though tbh it just means I don't buy from newegg, not very hard

[SpaceGhostC2C]

3 hours ago, Prysin said:

As a European i'm not sure if i even care

 

Nor should anyone care. Some wealthy people bought shares from some other wealthy people. As if you could know the identity of the share holders of publicly traded companies.

 

People attaching flags to companies are just delusional.

[Jovidah]

2 minutes ago, SpaceGhostC2C said:

Nor should anyone care. Some wealthy people bought shares from some other wealthy people. As if you could know the identity of the share holders of publicly traded companies.

 

People attaching flags to companies are just delusional.

I agree. If you're really worried about the Chinese, for example from an industrial espionage point of view, it's not the retailer I'd be worrying about. It's all the made in China parts with hardware backdoors I'd worry about...

[ivan134]

4 minutes ago, SpaceGhostC2C said:

Nor should anyone care. Some wealthy people bought shares from some other wealthy people. As if you could know the identity of the share holders of publicly traded companies.

 

People attaching flags to companies are just delusional.

Lol, conservative talk radio does a number on people's brains

[Guest]

Now those yellow eggs make sense because chinese people are yellow? Ok. I am bad at making jokes

[VerticalDiscussions]

Well, this is interesting. Interesting because, the chinese truly love to purchase foreign companies, dont they? Chinese marketplaces incur in such crazy policies nowadays, that it could well be hazardous to even use Newegg as of now xD! Why is Portugal never considered an area for marketplaces to have theyr retail affiliates allowing for shipment into this country, UH!? Whyyyyyyyyyy  is the world so unfair for Europe, especially the renegade countries of it. Whats the point of being in an European Union when only a select few, France, Germany, United Kingdom (while it last lol) and Spain the only ones considered "viable"...

[Unhelpful]

3 hours ago, Prysin said:

So despite @patrickjp93 claiming big US companies wont be sold to china because the US gov will stop the sale.... Well, either someone wasnt paying attention, or he's wrong.

It's almost like Patrick is a little "special"

 

But damn if he doesn't think he's a genius!