Paytm Mall, the e-commerce arm of Paytm, loses Alibaba and Ant Financial as investors, and its valuation drops from $3B to $13M
As Paytm Mall joins the government-backed e-commerce platform, the Open Network for Digital Commerce or ONDC, the firm sheds almost 99.5% of its valuation that it built since 2017.
How Jack Ma's Ant Financial transformed within five years from a mobile payments platform into Ant Group, a digital supermarket of financial services
Financial Times : Tweets: @mike_daly1 and @value_invest12 Tweets: Mike Daly / @mike_daly1 : Western bankers' nightmare that banks lose direct relationship with customers and all engagement is mediate...
Jack Ma's Ant Group, payments processor for Alibaba, plans a dual listing in Hong Kong and Shanghai, sources say seeking a valuation of $200B+
What you need to know about the dual IPO Paddy Baker / CoinDesk : Alibaba's Ant Group Plans Dual IPOs at Possible $200B Valuation Fortune : Why the world's most valuable unicorn is shunning a U.S. IPO...
Sources: China's Ant Financial acquires stake in Vietnamese e-wallet company eMonkey in a strategic move to get into Vietnam's ~100M fintech market
Fanny Potkin / Reuters :
Source: Ant Financial is planning to raise ~$1B for a fund that will invest in startups from Southeast Asia to India
- The fund will focus on startups in Southeast Asia, India — Ant wants to invest in payments, risk control startups — Billionaire Jack Ma's Ant Financial …
Alibaba reports Q2 revenue of $16.91B, up 40% YoY, with net income more than tripling to ~$10B due to a one-time gain related its stake in Ant Financial
Source: Paytm is close to raising $2B in funding from Ant Financial and SoftBank, at a valuation of $16B
Saritha Rai / Bloomberg :
Alibaba closes the acquisition of 33% of Jack Ma's Ant Financial; Ant will now stop paying 37.5% of its pre-tax profits to Alibaba
- E-commerce giant now has 33% interest in the fintech giant — Ant will no longer pay 37.5% of its pre-tax profit to Alibaba
Sources: Grab is considering spinning out its financial services business and is in talks with PayPal and Alibaba's Ant Financial over possible investments
Grab, the $16 billion-valued ride-hailing firm that acquired Uber's Southeast Asia business last year, is in talks with Alibaba's Ant Financial …
Accenture: global fintech funding more than doubled YoY to $55.3B in 2018, with China accounting for $25.5B, boosted by $14B raised by Ant Financial
Despite escalating tensions between the US and China over trade and technology, Chinese companies accounted for nearly half …