Welcome to The Forum

Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads

View basic rules for our forums

Alibaba's Ant Financial Valued At $30 Billion Amid Funding Talks: Caixin

Ron Burgundy

By Ron Burgundy,
in Tech News

 Share

Recommended Posts

Ron Burgundy Omniscient Member

Ron Burgundy

Posted
Posted

Ant Financial Services Group, an affiliate of Chinese e-commerce titan Alibaba, is in negotiations for funding that have reached a "critical stage" and value the company at $30 billion, news magazine Caixin reported on Monday. The report cited unidentified sources as saying China's state-backed social security fund, Postal Savings Bank of China, and CDB Capital, an investment arm of China Development Bank, would be among the strategic investors in discussions for stakes of 5 percent, 3 percent and 3 percent respectively. Alibaba spokeswoman Teresa Li, speaking on behalf of Ant Financial, said the company did not comment on market rumors or speculation as a matter of policy. Ant Financial runs Alipay, China's most widely used online payment platform and which is seen as a crucial part of Alibaba's business.

 

View the full article

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing