Grab is talking to Ant Financial and PayPal about spinning out its financial services business

Grab is talking to Ant Financial and PayPal about spinning out its financial services business

Grab, the $16 billion-valued ride-hailing firm that acquired Uber’s Southeast Asia business last year, is in talks with Alibaba’s Ant Financial and PayPal as it considers spinning out of its financial services unit to double down on its non-transportation business, TechCrunch has learned. The seven-year-old company’s coming-of-age moment was a deal to buy Uber’s regional […]…

NVIDIA and OpenAI’s capped returns

NVIDIA and OpenAI’s capped returns

Editor’s note: Starting as a trial, the Extra Crunch Daily newsletter is going to be delivered Tuesday-Saturday, in order to faithfully analyze the happenings in the startup and financial world Monday-Friday. Open AI’s capped returns OpenAI announced yesterday that they are going to be offering a “capped return” security for investors as part of the […]…

Tiger Global and Ant Financial lead $500M investment in China’s shared housing startup Danke

Tiger Global and Ant Financial lead $500M investment in China’s shared housing startup Danke

A Chinese startup that’s taking a dorm-like approach to urban housing just raised $500 million as its valuation jumped over $2 billion. Danke Apartment, whose name means “eggshell” in Chinese, closed the Series C round led by returning investor Tiger Global Management and newcomer Ant Financial, Alibaba’s e-payment and financial affiliate controlled by Jack Ma. […]…

Apple is offering interest-free financing to boost iPhone sales in China

Apple is offering interest-free financing to boost iPhone sales in China

Apple is looking to get over its sales woes in China but offering prospective customers interest-free financing with a little help from Alibaba. Apple’s China website now offers financing packages for iPhones that include zero percent interest packages provided in association with several banks and Huabei, a consumer credit company operated by Alibaba’s Ant Financial […]…

Alibaba hits the gas on mobility as its bike sharing service adds carpooling

Alibaba hits the gas on mobility as its bike sharing service adds carpooling

Carpooling is heralded to be environmentally friendly and money-saving, but in smog-stricken China, the transportation option became a source of public concerns after two female passengers got murdered during their lifts with Didi Chuxing drivers. The ride-hailing app has suspended its Hitch service to this date under government command, and its peers were also directed […]…

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

Ant Financial, the financial services behemoth affiliated with Chinese e-commerce giant Alibaba, has made its first big move into Europe. It’s acquired London-headquartered payments company WorldFirst in a deal that sources tell us is valued at around $700 million. (That price would also line up with multiple reports from December claiming the two were in […]…

Alibaba’s alternative to the app store reaches 230M daily users

Alibaba’s alternative to the app store reaches 230M daily users

WeChat isn’t the only one doubling down on lite apps. Ever since China’s messaging titan introduced “mini programs” two years ago, a handful of its peers including Alibaba and Baidu have followed with their own manifestations. Alipay, the payments solution affiliated with China’s ecommerce juggernaut Alibaba, today announced it surpassed 230 million daily active users and […]…