Tech startups such as Ant Financial Services Group and Beijing Bytedance Technology Co, have been embracing ever-bigger valuations at an unprecedented pace.
SHANGHAI: Ant Financial Services Group, operator of China’s biggest online payment platform, on Friday said it raised around US$14bil in what market watchers called the biggest-ever single fundraising globally by a private company.
The cash will boost Ant’s firepower ahead of a widely expected initial public offering (IPO) in Hong Kong and mainland China as early as next year - though the company has neither publicly set a timetable nor chosen a likely stock exchange.
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