The company has two main businesses:
Alipay, which has over 1 billion annual users and 711 million monthly active users, is its most established business. Ant processed almost $16 trillion worth of payments last year, netting the company $7.4 billion in revenue.
But payments is no longer Ant's biggest business. In recent years, the company has aggressively grown its "digital finance technology platform," licensing out technology to financial services companies so they can offer loans, insurance and investment options on Alipay. Last year, that division delivered 56% of Ant's revenue, or $9.7 billion.
Unlike many tech companies listing this year, Ant is actually profitable. Last year it made a profit of $2.6 billion, and it's already beaten that in 2020: Ant made $3.1 billion in the first six months of the year.
https://www.protocol.com/ant-ipo-what-you-need-...
The company has two main businesses:
Alipay, which has over 1 billion annual users and 711 million monthly active users, is its most established business. Ant processed almost $16 trillion worth of payments last year, netting the company $7.4 billion in revenue.
But payments is no longer Ant's biggest business. In recent years, the company has aggressively grown its "digital finance technology platform," licensing out technology to financial services companies so they can offer loans, insurance and investment options on Alipay. Last year, that division delivered 56% of Ant's revenue, or $9.7 billion.
Unlike many tech companies listing this year, Ant is actually profitable. Last year it made a profit of $2.6 billion, and it's already beaten that in 2020: Ant made $3.1 billion in the first six months of the year.
https://www.protocol.com/ant-ipo-what-you-need-...