Posts filtered by tags: Ant Financial[x]


 

Affirm revealed its IPO paperwork. Here's a look inside the buy now, pay later frenzy, the new twist on financing that is a must have for everyone.

Klarna markets itself as a 'smoooth shopping' experience. Thomas Concordia/Getty Images Point-of-sale financing isn't new, but it's gotten renewed attention as a wave of startups like Affirm, Afterpay, and Klarna acquired millions of new users during the coronavirus pandemic. On Wednesday, Affim published its S-1, the paper detailing its planned initial public offering.  These fintechs offer consumers the ability to buy now, pay later, both online and in-store. And now, incumbents ...
Tags: Apple, Google, Amazon, Japan, UK, Etsy, Australia, France, Finance, China, US, Trends, Paypal, David, Canada, Tencent


Zomato will not charge commission on takeaway orders

Food aggregator Zomato will not charge any commission on takeaway orders, and will also forego the payment gateway charges it incurs on such orders, the company announced on Wednesday. The company said that takeaway order volumes have more than tripled in the last few months. More than 55,000 takeaway restaurants are currently live on Zomato’s app, the company added. Zomato also said that its food delivery business has crossed pre-COVID levels, operating at around 110% of pre-COVID GMV (gross me...
Tags: Travel, News, China, India, US, Food Delivery, Ant Financial, Zomato, Swiggy, Sanjeev Bikhchandani, Covid19, Kora Investments, Zomato IPO Zomato


Ant's record-breaking $37 billion IPO was personally halted by China's Xi Jinping after boss Jack Ma snubbed government leaders, report says

Jack Ma shakes hands with Chinese President Xi Jinping during a visit at Microsoft's main campus September 23, 2015 in Redmond, Washington. Ted S. Warren-Pool/Getty Images Ant Group's historic $37 billion IPO was personally halted by Chinese President Xi Jinping after boss Jack Ma criticized government leaders, the Wall Street Journal reported.A week before the Chinese fintech was set to go public, Ma made incendiary comments that didn't go down well with the president or other governme...
Tags: Hong Kong, Microsoft, Kentucky, Finance, China, Ipo, Trends, Tech, Markets, Regulation, Xi Jinping, Shanghai, Alibaba, Ant Financial, Jack Ma, Wall Street Journal


China's Xi Jinping personally halted Ant's record-breaking $37 billion IPO after boss Jack Ma snubbed government leaders, report says

Jack Ma shakes hands with Chinese President Xi Jinping during a visit at Microsoft's main campus September 23, 2015 in Redmond, Washington. Ted S. Warren-Pool/Getty Images Ant Group's historic $37 billion IPO was personally halted by Chinese President Xi Jinping after boss Jack Ma criticized government leaders, the Wall Street Journal reported.A week before the Chinese fintech was set to go public, Ma made incendiary comments that didn't go down well with the president or other governme...
Tags: Hong Kong, Microsoft, Kentucky, Finance, China, Ipo, Trends, Tech, Markets, Regulation, Xi Jinping, Shanghai, Alibaba, Ant Financial, Jack Ma, Wall Street Journal


The race to be China’s top fintech platform: Ant vs Tencent

As Ant Group seizes the world’s attention with its record initial public offering, which was abruptly called off by Beijing, investors and analysts are revisiting Tencent’s fintech interests, recognized as Ant’s archrival in China. It’s somewhat complicated to do this, not least because they are sprawled across a number of Tencent properties and, unlike Ant, don’t go by a single brand or operational structure — at least, not one that is obvious to the outside world. However, when you tease ou...
Tags: Fundings & Exits, TC, Asia, Hong Kong, Finance, China, Digital, Tech, Paypal, Beijing, Shanghai, Alibaba, Tencent, WeChat, Alipay, Ant Financial


Melvyn Pun explains why he left a career at Goldman Sachs to head a family-owned investment business in Myanmar

Yoma Strategic Management Melvyn Pun left a career at Goldman Sachs to head Yoma Strategic Holdings, part of a Myanmar-based business conglomerate founded by his father Yoma Strategic recently took a controlling stake in mobile-based financial services provider Wave Money, now also backed by Ant Financial Pun believes Myanmar offers investors unique opportunities, but regulatory and reputational risk are still a concern Pun predicts Myanmar to be one of the fastest-growing e...
Tags: Asia, Hong Kong, UK, China, Singapore, India, Trends, Investing, Aung San Suu Kyi, Myanmar, Rohingya, Goldman Sachs, Michael O Neill, Ant Financial, Serge, Pun


Ant Group's record $34.5 billion IPO suspended in Shanghai and Hong Kong a day after Jack Ma met with Chinese regulators

Jack Ma, the Alibaba Group founder and executive chairman. Bryan Thomas/Getty Images Ant Group's initial public offering was suspended in Shanghai and Hong Kong on Tuesday, a day after Chinese regulators met with Jack Ma and top executives.The Shanghai exchange said supervisory interviews and a change in the financial-technology regulatory environment meant that Ant "may no longer meet the conditions for offering and listing, or the requirements for information disclosure."Ant was planning ...
Tags: Hong Kong, Finance, China, Ipo, Trends, Markets, Regulators, Shanghai, Alibaba, Listing, Alibaba Group, Ant Financial, Jack Ma, Ant, Saudi Aramco, Stifel


Ant Group's record $34.5 billion IPO suspended in Shanghai and Hong Kong a day after Jack Ma met with China regulators

Alibaba Group founder and Executive Chairman Jack Ma. Bryan Thomas/Getty Images Ant Group's IPO has been suspended in Shanghai and Hong Kong a day after Jack Ma and top executives were questioned by China regulators.The meeting and changes in the regulatory technology environment have disqualified Ant Group from listing on the exchange, according to a filing by the Shanghai stock exchange.Alibaba shares plunged 8% in pre-market trading.Visit Business Insider's homepage for more stories.Ant ...
Tags: Hong Kong, Finance, China, Trends, Markets, Regulators, Shanghai, Alibaba, Listing, Alibaba Group, Ant Financial, Jack Ma, Ant, Shanghai Stock Exchange, Hong Kong Stock Exchange, Regulatory


Chinese billionaire Jack Ma and AMD CEO Lisa Su have a new tech strategy: shoot the moon

Hello, and welcome to this Wednesday's edition of the Insider Tech newsletter, where we break down the biggest news in tech. Did someone forward this newsletter to you? Get Insider Tech straight in your inbox by subscribing here  This week: Jack Ma and AMD CEO Lisa Su are shooting for the moon Jack Ma Stephane Mahe/Reuters Good news, there's water on the moon, and soon, there will even be WiFi on the moon.Netflix has a new animated movie out called "Over the Moon."And Elon Musk unlocked...
Tags: Apple, Google, Amazon, Hollywood, Enterprise, Microsoft, Yahoo, Washington, Softbank, Trends, Intel, Ap, Earth, Netflix, Alibaba, Xbox


Jack Ma's Ant Group aims to raise $34.5 billion in largest IPO of all time

Ant Group logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China September 14, 2020. Aly Song/Reuters Ant Group will raise $34.5 billion through a dual initial public offering in November, making it the biggest-ever IPO.The financial services giant aims to evenly split its 1.67 billion-share debut across the Hong Kong and Shanghai exchanges.Shar...
Tags: Hong Kong, US, Trends, Markets, IPOs, Shanghai, Alibaba, Alipay, Ant Financial, Jack Ma, Initial Public Offering, Ant, Financial Technology, Saudi Aramco, Jpmorgan, Initial Public Offerings


How e-commerce is transforming Indonesia's retail landscape

Founder and CEO of Indonesian e-commerce firm Tokopedia, William Tanuwijaya, poses for a photograph at Tokopedia headquarters in Jakarta REUTERS/Willy Kurniawan Indonesia is the fastest growing internet economy in Southeast Asia, with e-commerce being the major contributor Tokopedia is the country's largest e-commerce marketplace, with 90 million monthly active users Indonesia's large consumer market is a growing attraction for overseas players such as Lazada and Shopee ...
Tags: Asia, Japan, Indonesia, Southeast Asia, Trends, Retail, Michael O Neill, Ant Financial, Online Payments, Rakuten, Bain, Gojek, Dana, Edison, Jakarta Indonesia, Indonesia Singapore


Lead Edge Capital just closed on $950 million from a whopping 500 investors

Lead Edge Capital, a software-focused venture firm with one office in New York and another in California, was founded just 11 years ago. Yet it’s already managing $3  billion in assets through a process that founder Mitchell Green half-kiddingly refers to as “rinse and repeat.” As he describes its model, Lead Edge raises money from wealthy, networked individuals, then it claws its way into companies, helps them, turns them into valuable references, and when those companies sell or go public, the...
Tags: Startups, TC, Uber, Spotify, New York, California, Ebay, China, Tech, Cisco, Green, Xerox, Alibaba, Venture Capital, Bird, Dell


India’s Zomato raises $62 million from Temasek

Indian food delivery startup Zomato has raised $62 million from Temasek, resuming a financing round that it originally expected to close in January this year. Singapore’s state investment arm Temasek financed the capital through its unit MacRitchie Investments, a regulatory filing showed. Business intelligence firm Tofler shared the filing with TechCrunch. A Zomato spokesperson in India did not respond to a request for comment Wednesday afternoon. Zomato kickstarted its new financing round ...
Tags: Food, Asia, Singapore, India, Funding, Tech, Alibaba Group, Ant Financial, Zomato, New Delhi, Deepinder Goyal, Temasek, Reuters, Swiggy, Info Edge, MacRitchie Investments


China’s Alibaba won’t invest in Indian startups for at least six months, report says

Chinese internet giant Alibaba Group has put on hold plans to invest in Indian startups amid geo-political tensions between the two countries, Reuters reported Wednesday, citing two unnamed sources. The Chinese group, which has invested more than $2 billion in Indian startups since 2015, plans to freeze new investments in Indian startups for at least six months, the report said, adding Alibaba does not intend to reduce its stakes in existing portfolio firms. Alibaba Group, and its affiliate A...
Tags: Asia, China, India, Funding, Tech, Alibaba, Himalayas, Alibaba Group, Ant Financial, Zomato, New Delhi, Gurgaon, Paytm, Reuters, Ant, Boycott China


Ant Group lays out how geopolitics will impact its global prospects

Worsening US-China relations can lead to increasing regulatory challenges or “enhanced restrictions against China and other Chinese technology companies, including us and Alibaba”, Ant Group warned investors on Monday, in its IPO prospectus. Such restrictions can come in a wide range of areas such as data security and privacy, emerging technologies, “dual-use” commercial technologies and “applications that could be deployed for surveillance or military purposes”, among other things, the Ant Grou...
Tags: Travel, Facebook, Hong Kong, News, North Korea, China, India, US, Star, United States, Alibaba, Alibaba Group, Ant Financial, Zomato, Huawei, Nasdaq


Unicorn rodeo: 6 high-flying startups that are set to go public

This week Airbnb announced that it has privately filed to go public, putting the famous unicorn on a path to a quick IPO if it wants. The recent move matches reporting indicating that the home-sharing upstart could yet go public in 2020 despite the collapse of the travel industry. The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. But Airbnb is not the only venture-backed company of note that is lo...
Tags: Fundings & Exits, Startups, TC, Ipo, Tech, Bloomberg, Airbnb, Ant Financial, Robinhood, Palantir, Asana, Intercom, Exchange, Qualtrics, Egnyte, Thredup


Jack Ma’s fintech giant tops 1.3 billion users globally

The speculation that Alibaba’s fintech affiliate Ant Group will go public has been swirling around for years. New details came to light recently. Reuters reported last week that the fintech giant could float as soon as this year in an initial public offering that values it at $200 billion. As a private firm, details of the payments and financial services firm remain sparse, but a new filing by Alibaba, which holds a 33% stake in Ant, provides a rare glimpse into its performance. Alipay, the bran...
Tags: Asia, Finance, China, Tech, Beijing, Pakistan, Alibaba, Alipay, Payments, Ant Financial, Jack Ma, Reuters, Ant, Tencent Alibaba, Hu Xiaoming, Ant Group


A glint of hope for India’s food delivery market as Zomato projects monthly cash burn of less than $1M

Food delivery startups in India have been struggling to make financial sense for years. They have each lost as much as $50 million a month to win and sustain customers by offering discounts. And unlike some other markets, food delivery startups have been severely hit by the coronavirus pandemic. But Zomato, one of the two market leading startups operating in the space, today offered a rare sign of hope for the market after it said it had severely cut its cash-burn as it looks to become profit...
Tags: Amazon, Food, Apps, Asia, India, Tech, Ant Financial, Zomato, Bangalore, Gurgaon, Deepinder Goyal, Swiggy, EBIDTA, Prosus Ventures, Anand Lunia, Uber Eats ' India


Zomato has interest from other investors, says InfoEdge’s Bhikchandani

During InfoEdge’s earnings call on June 23, which owns a 22.71% stake in Zomato, InfoEdge founder and vice chairperson Sanjeev Bhikchandani had said that the funding from Ant Financial was yet to come but they had investor interest from other investors who don’t need any permission to invest in an Indian company. But the Financial Times reported on Sunday that Zomato’s $100 million funding from Ant Financial, a sister company of Tencent and Alibaba, has been scuppered by the recent Indo-China te...
Tags: Travel, Amazon, News, India, Amc, E-commerce, Alibaba, Tencent, Earnings, Ant Financial, Zomato, Delhi, Financial Times, Bangalore, Deepinder Goyal, Oberoi


VESoft raises $8M to meet China’s growing need for graph databases

Sherman Ye founded VESoft in 2018 when he saw a growing demand for graph databases in China. Its predecessors like Neo4j and TigerGraph had already been growing aggressively in the West for a few years, while China was just getting to know the technology that leverages graph structures to store data sets and depict their relationships, such as those used for social media analysis, e-commerce recommendations, and financial risk management. VESoft is ready for further growth after closing an $8 mi...
Tags: Facebook, Asia, Enterprise, California, China, Tech, Open Source Software, West, Alibaba, Tencent, Ibm, Silicon Valley, Ant Financial, Hangzhou, Nosql, Databases


Silver Lake to buy additional $600 million stake in India’s Reliance Jio Platforms

Silver Lake is doubling down its bet on India’s Reliance Jio Platforms. The U.S. private equity firm said Friday it is buying an additional stake worth $600 million in the top Indian telecom operator, which has now raised $12.2 billion in less than two months at the height of a global pandemic. The Menlo Park-headquartered firm, which invested nearly $750 million in Reliance Jio Platforms last month, said the additional infusion increases its stake in the Indian firm to 2.08%, up from 1.15%. Sil...
Tags: Google, Amazon, Asia, India, Funding, Tech, Vista, Atlantic, Vodafone, Dell, Ant Financial, Abu Dhabi, Skype, Silver Lake, Reliance, Reliance Jio


JioMart, the e-commerce venture from India’s richest man, launches in 200 cities and towns

The rationale behind the deluge of dollars flooding into billionaire Mukesh Ambani’s Reliance Jio Platforms is beginning to become more clear as his e-commerce venture JioMart starts rolling out to more people across India. An e-commerce venture between the nation’s top telecom operator Jio Platforms and top retail chain Jio Retail, JioMart just launched its new website and started accepting orders in dozens of metro, tier 1 and tier 2 cities including Delhi, Chennai, Kolkata, Bangalore, Pune...
Tags: Amazon, Facebook, Ecommerce, Asia, India, Narendra Modi, Tech, Walmart, Whatsapp, Atlantic, Ant Financial, Zomato, Mumbai, Flipkart, BigBasket, Reliance


JioMart, the e-commerce venture from India’s richest man, launches in additional cities

The rationale behind the deluge of dollars flooding into billionaire Mukesh Ambani’s Reliance Jio Platforms is beginning to become more clear as his e-commerce venture JioMart starts rolling out to more people across India. An e-commerce venture between the nation’s top telecom operator Jio Platforms and top retail chain Jio Retail, JioMart just launched its new website and started accepting orders in dozens of metro, tier 1 and tier 2 cities including Delhi, Chennai, Kolkata, Bangalore, Pune...
Tags: Amazon, Facebook, Ecommerce, Asia, India, Narendra Modi, Tech, Walmart, Whatsapp, Atlantic, Ant Financial, Zomato, Mumbai, Flipkart, BigBasket, Reliance


JioMart, the e-commerce venture from India’s richest man, launches in 200 cities

The rationale behind the deluge of dollars flooding into billionaire Mukesh Ambani’s Reliance Jio Platforms is beginning to become more clear as his e-commerce venture JioMart starts rolling out to more people across India. An e-commerce venture between the nation’s top telecom operator Jio Platforms and top retail chain Jio Retail, JioMart just launched its new website and started accepting orders in dozens of metro, tier 1 and tier 2 cities including Delhi, Chennai, Kolkata, Bangalore, Pune...
Tags: Amazon, Facebook, Ecommerce, Asia, India, Narendra Modi, Tech, Walmart, Whatsapp, Atlantic, Ant Financial, Zomato, Mumbai, Flipkart, BigBasket, Reliance


Coronavirus: Brand Moves for Monday May 4

A new online service has been launched by American 50-plus membership organisation AARP to help users find and organize local volunteer groups to provide financial, emotional and other support to those most affected by the coronavirus outbreak. AARP Community Connections features a searchable directory of mutual aid organizations to help people at higher risk of COVID-19, as well as workers who have been laid off due to the pandemic. These informal groups, usually formed and run online, are pro...
Tags: Amazon, Facebook, Europe, Japan, UK, London, China, India, Advertising, US, Unilever, United States, Comcast, Ford, Berkshire Hathaway, Warren Buffett


Indian food delivery startup Swiggy is cutting about 1,000 jobs

Swiggy is cutting about 1,000 jobs, most from its cloud kitchen division, as India’s top food delivery startup scales back some of its businesses in response to the coronavirus pandemic that has drastically affected millions of firms. In a statement, the Bangalore-based startup said it was “evaluating various means to stay nimble and focus on growth and profitability across our kitchens.” “This will, unfortunately, have an impact on a certain number of kitchen staff who will be fully supporte...
Tags: Food, Uber, Asia, India, Linkedin, Tech, Foodpanda, Ant Financial, Zomato, New Delhi, TechCrunch, Bangalore, Ola, Gurgaon, Uber Eats, Deepinder Goyal


As China lifts its coronavirus lockdowns, authorities are using a color-coded health system to dictate where citizens can go. Here's how it works.

Provinces and cities across China are slowly lifting their strict coronavirus lockdown measures. Wuhan, where the coronavirus broke out, plans to end its lockdown on April 8. Local authorities are trying to prevent further spread by controlling citizens' movements via smartphone software installed in WeChat and Alipay, two popular instant-messaging and online payment apps. After people fill out a quick health survey, the software issues them with a colored health code — green, yellow, or red —...
Tags: China, Trends, Bbc, Beijing, New York Times, Shanghai, Alibaba, Tencent, WeChat, Amnesty International, Associated Press, Alipay, Ant Financial, Xinjiang, Hangzhou, Wuhan


Alibaba-Backed AI Startup Sales Triple Enroute to IPO

(Bloomberg) -- Megvii Technology Ltd. for the first time revealed the stunning growth fueled by a nation’s obsession with security.The Alibaba Group Holding Ltd.-backed startup tripled revenue to 949 million yuan ($133 million) in the first half. It generated more than 73% of those sales from AI services for major clients like government agencies, hospitals and real estate developers, the company said in a filing to the Hong Kong Stock Exchange.Seven-year-old Megvii is said to be angling to rais...
Tags: Hong Kong, Business, News, Washington, China, Bloomberg, Beijing, Shanghai, Alibaba, Ant Financial, Huawei, Trump, China Mobile, Foxconn Technology Group, Lenovo Group Ltd, Huawei Technologies Co


Female-founded startups landed more deals globally in 2019 than ever before

We all know the disruptive stories of female-founded startups like Glossier and ezCater. And we also know how those success stories belie the much harder time thousands of other women entrepreneurs have when it comes to raising capital. That’s why it’s so important to have historical data and a window into how these things may be changing, so that the industry can consistently benchmark its successes and failures in an attempt to correct historical inequities in the ways venture firms distr...
Tags: TC, Business, Entrepreneurship, Tech, Diversity, Economy, United States, Venture Capital, Private Equity, Ant Financial, Startup Company, Crunchbase, Unicorn, Female Entrepreneurs, Corporate Finance, Kostka


Alipay owner Ant Financial takes minority stake in Klarna

Some big moves in the payments platform space: Ant Financial Group, the owner of China’s Alipay payment platform has announced it’s taking a minority stake in Swedish payments platform Klarna — which has a strong European presence and a flagship product that lets shoppers buy now and pay later in interest-free instalments (typically 14 or 30 days after the purchase). The pair have not disclosed terms of the deal but Reuters reported the stake amounts to less than 1% and was made up of e...
Tags: Startups, Asia, Spotify, Europe, H&m, China, India, Samsung, Nike, Adidas, E-commerce, Online Shopping, Alibaba, Ikea, Alipay, Payments