Airwallex Faces China Backdoor Allegations From Prominent VC [Forbes]
Bill.com Holdings, Inc. (BILL)
Last bill.com holdings, inc. earnings: 2/6 04:05 pm
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Source: Forbes
Keith Rabois, the prominent investor and former executive at PayPal and Square, has publicly accused Airwallex of operating as what he calls a "Chinese backdoor" for accessing sensitive US financial data, casting a shadow over the company's recent announcement of surpassing $1 billion in annual recurring revenue. The allegations, posted in a detailed thread on X on December 1, directly challenged Airwallex CEO Jack Zhang's November celebration of the company's rapid growth trajectory. Rabois claims the Singapore-headquartered payments platform's operational structure and Chinese ownership create what he describes as inevitable channels for Chinese government access to customer data. Rabois' Allegations and Their Basis Rabois alleges that Airwallex's significant operational presence in mainland China and Hong Kong, combined with Chinese ownership stakes and legal obligations under Chinese law, creates vulnerabilities for US clients. According to his thread, approximately 40% of A
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- BARINGTON CAPITAL GROUP CALLS FOR CHANGES AT BILL HOLDINGS, INC. TO IMPROVE LONG-TERM SHAREHOLDER VALUEPR Newswire
- A Fresh Look at BILL Holdings (BILL): Evaluating Value After Hedge Fund and Activist Investor Moves [Yahoo! Finance]Yahoo! Finance
- BILL to Participate in Upcoming Investor ConferenceBusiness Wire
- BILL (NYSE:BILL) had its "buy" rating reaffirmed by analysts at Needham & Company LLC.MarketBeat
- BILL (NYSE:BILL) was given a new $60.00 price target on by analysts at Truist Financial Corporation.MarketBeat
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