Ant Financial has a big share of China’s huge mobile payments market. That doesn’t mean investors should swallow talk of a lofty valuation as it gears up for a possible IPO
Here’s some nature news: Ants can squash unicorns. At least when it comes to Ant Financial, the finance affiliate of China’s e-commerce giant Alibaba.
Ant, which owns China’s largest mobile-payment system, Alipay, is seeking to raise $5 billion in a new funding round that could value the company at about $100 billion. That would make it worth far more than unicorns like Uber or Airbnb.