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Global Identity Management
Chinese Artificial Intelligence startup SenseTime has reported that it expects revenue for the 2019 fiscal year to come in at $750 million, despite being one of a number of Chinese entities placed on a U.S. blacklist in October. SenseTime, which has its headquarters in Hong Kong and has reported its valuation at more than $7.5 […]
Beijing-based facial recognition company Megvii has indeed pressed ahead with its push for a Q4 IPO in Hong Kong, but has reportedly run into a regulatory obstacle. Citing anonymous “with knowledge of the matter”, Reuters reports that the Hong Kong Stock Exchange’s Listing Committee did not approve Megvii’s application last week, with committee members asking […]
The Savelovsky court of Moscow has ruled against the notion that the use of facial recognition cameras is in violation of the Russian Constitution with regards to the collection of personal data and an individual’s rights to privacy. In a case brought forward by plaintiff Alena Popova the courts declared that her arrest in 2018 […]
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 […]
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 […]
Megvii has been exonerated in an investigation into human rights violations in China. The New York-based Human Rights Watch previously uncovered Megvii code in a government surveillance app being used to monitor the Uyghur muslims in Xinjiang back in May. However, the same organization is now reporting that the code was “inoperable,” and that Megvii […]
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 […]
“Responding to media inquiries, Megvii has asserted that it has no agreement for the use of its technology in the Chinese police app, and indeed that it has no knowledge of how its technology was integrated into the app.” The surveillance state that Chinese authorities have built in the country’s Xinjiang region is more intensive […]
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 […]
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