Alipay Maybe Worth More than Goldman Sachs
Alipay was intended as a way for customers for Alibaba to purchase goods online. Now the business’s parent company may be worth $75 billion or more than Goldman Sachs Group Inc.
“Alipay’s parent company may be worth $75 billion or more than Goldman Sachs Group Inc.”
Ant Financial, Alipay’s parent company was valued at about $60 billion in June when it raised $4.5 billion. Estimates has it that most of Ant Financial’s value is in Alipay with a worth of $50 billion. The rest of the value comes from its micro loans, wealth management units, investments and cash on hand. This is more than Goldman’s $70 billion market value as of Monday.
Alipay.com is a third-party online payment platform with no transaction fees. It was launched in China in 2004 by Alibaba Group and its founder Jack Ma.Alipay says it operates with more than 65 financial institutions including Visa and Mastercard to provide payment services for Taobao and Tmall as well as more than 460,000 Chinese businesses.
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