Actionable news
0
All posts from Actionable news
Actionable news in BABA: ALIBABA GROUP HOLDING LIMITED,

Alibaba payment arm raises $4B, valued at near $60B

Ant Financial, the affiliate of Chinese e-commerce giant Alibaba that runs Alipay, has closed a funding round of over $4 billion valuing the company at close to $60 billion dollars, a source close to the deal told CNBC.

Previous media reports had put the funding at $3.1 billion, but the latest round is significantly higher.

This makes Ant Financial the second-most valuable private technology firm behind U.S. ride hailing app Uber, which is worth over $62 billion, and ahead of Chinese smartphone maker Xiaomi, which has a valuation of $45 billion.

The roughly $60 billion valuation is higher than the $45 billion it snagged during...


More