Here's what we learned from Ant Group’s new IPO filing: by theothersarahh
’s Chinese e-commerce giant Alibaba, filed new IPO documents—a highly anticipated first look at the company’s financials—on Tuesday ahead of its listing on the Hong Kong and Shanghai stock exchanges, and here’s what we learned: Ant raked in $2.5 billion in profit in 2019, and its revenue grew more than 40% in 2019 to $17.4 billion.
While the company has not yet announced a pricing plan for its shares , many are speculating that this could be one of the biggest IPOs ever, with the potential to surpass even Saudi Aramco’s record-breaking $29 billion listing, a source familiar with the situationAlipay, the mobile payments app Ant operates, had more than one billion annual active users as of June and processed $17 trillion worth of transactions in mainland China over the course of a year.
More than 80 million merchants use Alipay for business over the course of a month, and the app has more than 2,000 partner financial institutions.$3.2 billion. That’s how much profit Ant Group reported for the first half of 2020. In comparison, Amazon pulled in $7.7 billion during the same period. Ant Group also accounted for certain risks to its business, most notably the increasingly frosty relationship between the United States and China.
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