On April 18th, The International Fund for Agricultural Development (IFAD) and Ant Financial Services Group signed a Joint Declaration of Intent to explore ways to contribute to economic development in rural areas and to reduce rural poverty in China and other developing countries.
Ant Financial Services Group announced today that Lucy Peng will be stepping down from her role as Executive Chairman of Ant Financial to focus on her new role.
On April 2, Alibaba Group joined hands with Ant Financial in conducting the buyout of Ele.me at $9.5 billion. The Vice President of Alibaba Group Wang Lei will serve as the CEO of Ele.me, and there will be no differentiation between the teams of the two companies.
Chinese mobile payments have made new moves in going abroad. On March 15, Ant Financial’s Alipay platform entered the markets in Cambodia, Laos, the Philippines and Burma to serve Chinese tourists.
Telenor Group has reached a strategic partnership agreement with Ant Financial in Pakistan, where Ant Financial will invest USD 184.5 m for a 45% stake in Telenor Microfinance Bank (“TMB”), a subsidiary of Telenor Group, to further develop TMB’s mobile payment and digital financial services.
Financial Times reported that Ant Financial is planning to raise $5 billion in a new funding round.
China far outnumbers the US in blockchain patents and leads the world, according to the latest blockchain patent list. Alibaba is the world’s leading enterprise in terms of number of patents published for blockchain technology. All of its 49 patents came from the Ant Financial technology laboratory.
MoneyGram International and Ant Financial announced they had formally terminated their planned merger on January 3. Ant Financial will pay MoneyGram $30 million as a cancellation fee.
Alipay, Zhima Credit, Ant Credit Pay and Linking Cloud jointly launched Medical Service on Credit, a medical product designed to reduce the need to queue for services, on November 7.
On October 10, Alipay officially announced that it would introduce free deposit and monthly-pay rent service in eight cities. It is reported that the first batch of cities are Shanghai, Beijing, Shenzhen, Hangzhou, Nanjing, Chengdu, Xi’an and Zhengzhou. If users’ Zhima Credit（芝麻信用）exceeds 650, they can enjoy deposit exemption and pay rent monthly. It is worth […]
Gap of Market Value between Alibaba and Amazon is Just 1.3% Narrowing Nearly 100 Billion Dollars in Past Two Months. By September 22nd, Amazon’s market value was $456.5 billion and Alibaba‘s was $450.7 billion. Their gap was just 1.3%. Almost two months ago, the gap in market value between these two companies reached $100 billion. […]
On September 18, Zeng Fuhu, former VP of Sohu net and GM of Sohu Focus, confirmed to All Whether TMT that he officially joined JD.com at the end of July and served as GM of JD.com real estate department. The department, which was recently formed, is now hiring staff. Jd.com will also add a new […]
In October, 2014, Costco opened up an overseas flagship store on TMall International to give e-commerce in China a shot. On January 23rd, 2016, Costco opened a franchised store in Wuhan to give offline retail a try. On September 8th, 2017, Costco announced the opening of its first store in Shanghai, and confirmed the store […]
On September 14, Alipay and Cainiao Global held the Global Logistics and Supply Chain Conference (GLSC) in Shanghai, and announced that they will provide services for SMEs form the most basic payment to marketing, credit, and finance businesses. At the same time, the Ant Financial will use face recognition technology in the logistics industry, so […]
Can battle-tested and awe-inspiring Amazon and Jeff Bezos beat Alibaba and Jack Ma? A “historical” turning point is seemingly at hand: Alibaba could soon top Amazon in market value. On August 24, by the time the stock market closed, Alibaba’s market value was $445.5 billion, only a limit up away from Amazon’s $455.2 billion. Since […]
On the evening of August 14th, JD Group released the 2017 second-quarter earnings report. The financial data of JD Finance didn’t be listed on the reports, which marked the realization of the news— “JD Finance would be separated from JD Group”. With the end of Q2, JD Finance completed the separation, and its finance data […]
After months of seesaw battle, the fate of Baidu Takeout may soon be decided, mostly likely to be taken over by ele.me. Currently, ele.me official responds that they have no comment on it, and Baidu has ambivalent attitude without responding clearly. According to what a core high-ranking figure told touchweb, Baidu Takeout ever negotiated with […]
Two global technological forces are disrupting the peaceful ecological environment in Southeast Asia. They’re not Silicon Valley technological companies like Google or Facebook. They are the two Chinese giants Tencent and Alibaba. The two companies provide the strongest financial support and the most successful business experience for venture capital firms in Southeast Asia. More and […]
On July 24, Ant Financial announced the signing of an agreement with Touch’n Go (TNG), a company directly affiliated with the CIMB Bank. A joint venture company will be formed to provide electronic wallet solutions and other related financial services for local users. In the future, Malaysian people will be able to easily use their […]
On July 6, Chinese bike-sharing start-up ofo announced a 700 million dollar funding round. The Series E funding was led by Alibaba, Hony Capital, and CITIC Private Equity, with additional investment from current investors Didi Chuxing and DST Global. CEC Capital served as the exclusive financial advisor to ofo in the transaction. This news is […]