Finance

Alibaba Finance Arm Is Valued Above $40 Billion in Latest Funding Round

      Alibaba Group Holding Ltd.’s finance affiliate, which runs China’s biggest online payments business, closed a private placement valuing the unit at more than $40 billion, according to two people familiar with the matter. Zhejiang Ant Small & Micro Financial Services Group Co. also will open an Internet bank, called MYbank, on June 25, the people said, asking ... Read More »