Ant Financial invests USD 100 mln in Chinese finance-focused social media, Xueqiu
Jul 04, 2018 (China Knowledge) - Alibaba's affiliate, Ant Financial Services Group is close to a deal to invest USD 100 million in a Chinese finance-focused social media, Xueqiu.
According to informed sources, the valuation of Xueqiu in this round of financing is about USD 400-500 million.
Since its launch in November 2011, Xueqiu has been providing Chinese investors with cross-market data query, information acquisition and interactive communication services on Chinese stock markets
The latest financing by Ant Financial is Xueqiu's latest since September 2014, when the latter announced the completion of USD 40 million C round financing, led by a social networking Internet platform operator Renren Inc and participated by Morningside Venture Capital
Over the past 5 years, Ant Financial Services has invested in a wide spectrum of businesses that include travel, food catering, education, insurance, small loan units, and smart payments.
The financial services group typically does not seek a controlling stake in the company it invests in and generally will buy 10-20% of their shares.
Some of the companies that Ant Financial invested strategically this year include Xingbianli, a checkout-free convenience store operator and Orbbec, 3D motion sensor company.
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