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Alibaba's Finance Affiliate Raises USD 4.5 Bln Series B

Mydriver, 4/26/16

Zhejiang Ant Small & Micro Financial Services Group (Ant Financial), the financial services company affiliated with Alibaba Group (NYSE: BABA), has publicly announced its completion of USD 4.5 bln Series B funding with investment from China Investment Corporation, China Construction Bank Trust, China Life Insurance, China Post Group, CDB Capital, Primavera Capital Group and others. Read More

Taobao Accounts for Under 50% of Alipay Transactions

Netease Tech, 10/19/12

Eric Jing, CFO of online payment platform and Alibaba Group subsidiary Alipay, recently disclosed that non-Taobao-related transactions account for more than 50% of Alipay's over all business, with TMall accounting for approximately 30% of payments handled. Read More

Alipay Spins Off Reward Points Platform

Sina Tech, 12/19/11

Online payment platform and Alibaba Group subsidiary Alipay has announced that it has relaunched its "Jifen Bao" (jf.alipay.com) reward points system as an independent platform. Read More

Jack Ma Addresses Alipay Asset Transfer Controversy

Sina Tech, 6/14/11

Jack Ma, chairman and CEO of e-commerce conglomerate Alibaba Group, said in a press conference in Hangzhou today that Yahoo co-founder Jerry Yang and Softbank CEO Masayoshi Son, members of Alibaba's board of directors, both believed that Alibaba's subsidiary Alipay could apply for a third-party payment license, despite not being 100% domestically owned as required by the People's Bank of China (PBoC). Read More