Tag: Ant Financial Services Group

China’s Ant Financial Receives $14 Billion in World’s Largest Single Fundraising

China’s Ant Financial Receives $14 Billion in World’s Largest Single Fundraising

Ant Financial Services Group, formerly known as Alipay, had reportedly raised up to $14 billion in what is considered to be the world’s largest single fundraising by a private company. A spin off from the Alibaba Group Holding Ltd prior to the e-commerce firm’s listing in 2014, Ant Financial is currently the largest mobile payment app in China. A Reuters report puts the value of Ant Financial at $150 billion, which makes it one of the most valuable financial firms in the world. Ant Financial is aiming to reach 2 billion consumers globally with its payments network in the next […]

PLDT to Bring in Strategic Chinese Partner

PLDT to Bring in Strategic Chinese Partner

Last Monday, Philippine telco giant PLDT revealed that its digital applications unit may bring in a Chinese partner to help build technology platforms and products for e-commerce. The company’s chair, Manuel Pangilinan added that he also welcomed the idea of getting a partner from the mainland for the entire PLDT group. The move is seen as a response to the shakeup in the country’s telecoms industry. PLDT and Globe had previously been threatened by President Rodrigo Duterte to improve their services and is now potentially facing a third Chinese competitor in the local market. Alibaba’s Ant Financial Services Group was […]