Alibaba buys food delivery platform Ele.me

Alibaba announced today that it will acquire all outstanding shares that it does not already own in food delivery platform Ele.me. The transaction implies the enterprise value of Ele.me at US$9.5 billion. Alibaba and its financial arm Ant Financial are already the largest shareholder in the company with approximately 43% shares. Rumors of Alibaba’s acquisition … More Alibaba buys food delivery platform Ele.me

Ant Financial, Didi and Xiaomi named top unicorns in China

China’s Ministry of Science and Technology has announced the 2017 China Unicorn Enterprise Development Report (in Chinese) and the Zhongguancun Unicorn Enterprise Development Report. 164 companies have made the top unicorn list, with a total valuation of $628.4 billion. Ant Financial took the crown with a valuation at $75 billion. Didi Chuxing and Xiaomi were … More Ant Financial, Didi and Xiaomi named top unicorns in China

Alibaba Invests a Further US$2 Billion in Lazada to Accelerate Region’s E-Commerce

Aibaba Group said Monday it will inject a further $2 billion into Southeast Asian online shopping giant Lazada as part of the group’s ongoing effort to accelerate the region’s e-commerce development. The latest move will deepen Lazada’s integration into the Alibaba ecosystem and brings Alibaba’s total investment in the e-commerce platform to $4 billion. In … More Alibaba Invests a Further US$2 Billion in Lazada to Accelerate Region’s E-Commerce

Ant Financial announces RMB 500 million in ecological investment in 2018

To celebrate National Tree Planting Day (植树节) on March 12, Ant Financial CEO Jing Xiandong said on March 11 that Ant Forest will invest RMB 500 million ($79 million) in ecological protection by the end of 2018, Chinese media TechWeb is reporting. At present, there are more than 300 million Ant Forest users. If more … More Ant Financial announces RMB 500 million in ecological investment in 2018

Blocked MoneyGram Deal Limits Alipay’s Global Ambitions

Alipay operator Ant Financial’s proposed $1.2 billion purchase of Dallas-based money transfer firm MoneyGram was finally blocked by the Committee on Foreign Investment in the United States (CFIUS), a U.S. government inter-agency regulatory body. Ant Financial was unable to convince the committee, even with three filings for approval, that Ant Financial would be able to … More Blocked MoneyGram Deal Limits Alipay’s Global Ambitions

Opinion: Southeast Asia should not be afraid to copy China

China has always been regarded as a copycat of Western innovation. But given the successes of WeChat, Tmall, Ant Financial, and the like, its companies are starting to be recognized as true innovators. In fact, China has developed so fast that Southeast Asia easily lags behind by roughly three to five years. But the region … More Opinion: Southeast Asia should not be afraid to copy China

Jack Ma says no Ant Financial IPO anytime soon

Jack Ma has put a halt to years of rumors about an imminent IPO for Alibaba’s payments arm, Ant Financial. Speaking in front of media on Saturday, the billionaire Alibaba founder said that there’s no timeline for when Ant Financial will list, and they will only consider the IPO route – ie: the possibility of … More Jack Ma says no Ant Financial IPO anytime soon

India’s top payments app punches back at WhatsApp

Following recent incursions by Silicon Valley giants, India’s top payments app is fighting back. Paytm, with 230 million registered users across the nation, is now rolling out messaging to combat WhatsApp’s upcoming send-money-to-your-buddy feature, which will make its global debut in the fast-growing Indian market. WhatsApp’s cash transfers are set to launch in December. Read … More India’s top payments app punches back at WhatsApp