Ant Financial

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Ant Financial Services Group
蚂蚁 金 服
legal form subsidiary company
founding October 16, 2014
Seat Hangzhou , China
management Simon Hu , CEO
Branch Financial technology
Website www.antfinancial.com

The Ant Financial Services Group ( Chinese  螞蟻 金 服  /  蚂蚁 金 服 , Pinyin Mǎyǐ jīnfú ) is a subsidiary of the Chinese Alibaba Group . Ant Financial is the highest-rated financial technology company in the world and the most valuable unicorn (start-up) in the world, valued at between $ 150 billion and $ 200 billion . Ant Financial offers payment and financial services under various brands. It operates u. a. Alipay , the world's largest mobile and online payments platform; and Yu'e Bao, the world's largest money market fund . It also operates Sesame Credit , a credit rating system that also rates social behavior ( social credit system ). The IPO of the Ant Group under Simon Hu is already planned.

history

Ant Financial was created on October 23, 2014 as part of a rebranding from the payment service Alipay. In 2015, Ant Financial raised approximately $ 4.5 billion from various investors. As of April 26, 2016, Ant Financial had around 450 million active users annually. In 2016, the Alipay mobile payment service processed transactions totaling US $ 9 trillion. The Credit Suisse estimated that 58% of online payments in China were made via Alipay. In September 2016, Ant Financial EyeVerify bought a biometric security company from the United States . On January 26, 2017, Ant Financial Services Group announced a deal to acquire MoneyGram International for $ 880 million. In January 2018, the companies decided to terminate the deal after the U.S. Foreign Investment Committee refused its approval on national security grounds. In the same month, the Chinese Cyberspace Administration stated that Ant Financial had failed to meet the country's data protection standards.

On June 9, 2018, the company raised around $ 14 billion from investors. The company began to expand abroad in recent years. In November 2019, the company announced it would raise $ 1 billion for a new fund to expand the company's investment activity in India and Southeast Asia . Due to the growing number of Chinese tourists around the world, Ant Financial is also trying to expand its services to Europe and the US. On February 14, 2019, Ant Financial acquired the UK money transfer company WorldFirst for $ 700 million. In March 2020, Ant Financial acquired a stake in the Swedish payment service provider Klarna . According to Reuters , the minority stake should be 1%.

As of August 2020, Ant Financial was slated to plan to go public in September. 15 percent of the company's shares are to be traded on the stock exchange. With an estimated company value of $ 150-200 billion, going public would be $ 20-30 billion difficult. Ant Financial plans to be listed in Hong Kong and Shanghai, but not the US, which has been attributed to mounting tensions between the two countries.

In the course of the IPO, the company's business figures also became known. In the 6 months from January to June 2020, the company made the equivalent of approx. 8.9 billion euros in sales and generated a profit of approx. 2.6 billion euros.

Brands

Individual evidence

  1. ↑ Exclusive: China's Ant aims for $ 200 billion price tag in private share sales - sources . In: Reuters . January 17, 2020 ( reuters.com [accessed February 21, 2020]).
  2. ↑ Stella Yifan Xie: More Than a Third of China Is Now Invested in One Giant Mutual Fund . In: Wall Street Journal . March 27, 2019, ISSN  0099-9660 ( wsj.com [accessed February 21, 2020]).
  3. ^ IPO of the Ant Group
  4. ↑ Alibaba affiliate Alipay rebranded Ant in new financial services push . In: Reuters . October 16, 2014 ( reuters.com [accessed February 21, 2020]).
  5. ↑ Ant Financial: Suddenly in the premier league - what distinguishes the most expensive fintech in the world. Retrieved February 21, 2020 .
  6. ↑ Kane Wu: 5 Things to Know About China's Ant Financial. In: WSJ. April 26, 2016, Retrieved February 21, 2020 (American English).
  7. ↑ US blocks MoneyGram sale to China's Ant Financial on national security concerns . In: Reuters . January 3, 2018 ( reuters.com [accessed February 21, 2020]).
  8. ↑ China's cyber watchdog scolds Ant Financial over user privacy breach . In: Reuters . January 11, 2018 ( reuters.com [accessed February 21, 2020]).
  9. ^ Ant Financial raising $ 1b for new fund to expand investments in India, SEA. In: DealStreetAsia. Retrieved February 21, 2020 (American English).
  10. ↑ 郭 应 喆: Ant Financial acquires UK payments firm - Chinadaily.com.cn. Retrieved February 21, 2020 .
  11. ↑ Katharina Schneider: Swedish financial services provider: Ant Financial imitates Snoop Dogg - and participates in Klarna. In: Handelsblatt. March 4, 2020, accessed March 23, 2020 .
  12. ↑ Fintech: Superlative IPO - Ant Financial gives the go-ahead for IPOs in Shanghai and Hong Kong. Retrieved August 29, 2020 .
  13. ↑ Stella Yifan Xie and Jing Yang: Inside Ant Group's Giant Valuation: One Billion Alipay Users and Big Profit Margins . In: Wall Street Journal . August 25, 2020, ISSN  0099-9660 ( wsj.com [accessed August 29, 2020]).