business
Alibaba’s Ant Financial could be valued at nearly US$60 billion
Chinese e-commerce giant Alibaba Group Holding Ltd's arm, Ant Financial Services Group, is seeking a valuation of nearly US$60 billion (RM245 billion) in its current round of funding, a person familiar with the matter said.
Ant Financial, which operates the "Alipay" online payment platform, is in talks to raise funds from existing and new investors, which could include CCB International, the person said today.
The Wall Street Journal reported earlier today that Ant Financial planned to raise up to 20 billion yuan, pegging its valuation at nearly US$50 billion.
The latest round of funding is expected to be completed by mid-April, the Journal reported.
Alibaba and Ant Financial were not immediately available for comment. – Reuters, March 7, 2016.
Please note that you must sign up with disqus.com before commenting. And, please refrain from comments of a racist, sexist, personal, vulgar or derogatory nature and note that comments can be edited, rewritten for clarity or to avoid questionable issues. As comments are moderated, they may not appear immediately or even on the same day you posted them. We also reserve the right to delete off-topic comments