In April 2000, just before the dot com bubble burst on Wall Street, a promising Chinese internet startup called Sina.com made its debut on the Nasdaq Stock Market, raising $68 million in an initial public offering.
The company, which had offices in Beijing and Silicon Valley, seemed primed for success. It had won financial backing from Michael S. Dell and Goldman Sachs; its auditor was PwC; and its founders included graduates of Stanford University’s elite engineering program. It
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