Biometrics News – Facial Recognition Taiwanese Economic Minister Sheng Jong-chin has ordered an investigation into Chinese company Megvii Technology following its inclusion in a list of 28 Chinese entities that were blacklisted by the US government. The investigation follows concerns surrounding Megvii’s recently acquired contract to provide a facial recognition security system at Taichung Power…
“The blacklisting does not prevent companies from purchasing Megvii’s products and services, but it does prevent companies from selling to Megvii, which means that Megvii has been unable to buy things like Nvidia processors used in its business.” China-based facial recognition specialist Megvii is preparing to push ahead with a planned IPO on the Hong…
Ping Identity is gearing up for a planned IPO, announcing that it’s offering 12,500,000 common stock shares pursuant to a prospectus filing with the Securities and Exchange Commission. The company hasn’t yet set a date for its stock market debut, but says that its shares have been approved for listing on the New York Stock…
Amid political turmoil and controversy over biometric facial recognition, Hong Kong-based Megvii has filed for an IPO aimed at a $500 million target. Citing anonymous sources, Reuters reports that Megvii’s leadership expect the IPO to occur in the fourth quarter of this year, and anticipate that it could raise as much as $1 billion, which…
“We appreciate the continued support of our existing investors and are delighted to welcome new investors who share our vision. We are starting the process of preparing the Company for an uplisting to a national exchange in due course, which we believe will be in the best interests of the Company and stockholders.” – Philip…
Socure is increasing its presence in Chennai, India. The New York-based identity verification startup first opened its Chennai office in 2017, and is looking to double its headcount from 15 to 30 by the end of 2019, before doubling again to 60 by 2021. According to Socure CEO Tom Thimot, the Chennai branch will be…
Hong Kong-based AI specialist Megvii has raised $750 million through its latest funding round, the company has announced. The news comes after Megvii raised $600 million in an investment round last year, and amid speculation that the company is planning an IPO. It’s now valued at a little over $4 billion. The announcement also comes…
The Chinese tech startup Megvii is rumored to be planning an initial public offering for later in the year. The South China Morning Post reports that the IPO could take place in either Hong Kong or New York, although Hong Kong is considered to be more likely at this time. Megvii is hoping to raise…