$14 Billion for Private Firm!
Ant Financial has raised another truckload of money - $14 billion from global investors. This funding round values the Chinese fintech company controlled by Alibaba founder Jack Ma at around $150 billion (Bloomberg notes it is pre-money which means it could be more now), making it the world’s most valuable fintech company.
China's Ant Financial just became the most valuable privately-held tech firm in the world, raising $14 billion in Series C funding at a $150 billion valuation (Uber is worth less than half as much.) The Alipay-administering Alibaba spinout—which is now also worth more than American Express, Goldman Sachs or Morgan Stanley—will use the cash for international expansion. So, look out, everyone (Fortune)
China is entering the next phase of its development which will require a more efficient financial services ecosystem,” said John Ho, founder of Hong Kong-based investment firm Janchor Partners that participated in this round. “With its technology, Ant is in a position to enable ordinary consumers to find and access financial services they weren’t able to before.”
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China is working – it has accomplished what took many parts of the world a century in less than three decades. As former President Obasanjo raises alarm that the government may be after him, possibly to slam false charges on him, we certainly know where we do well: zen-like efficiency on political stagnation.
Former President Olusegun Obasanjo has accused the Buhari administration of plotting to slam false charges on him, to pave the way for his indefinite detention.
The former leader said the government was planning to use fake documents and witnesses against him.
Mr Obasanjo said this in a statement by his media aide, Kehinde Akinyemi, on Friday.
The claim is the latest twist after weeks of bitter exchanges between the two leaders, who fell apart after Mr Obasanjo accused Mr Buhari or ineptitude and corruption, and advised him not to seek reelection
No group of investors would give a private company $14 billion if they do not believe in the nation. Chinese leaders are raising money for their companies, daily!
