Alibaba spin-off Ant Financial gets $4.5b funding as China’s payments war escalates
Alibaba spin-off company Ant Financial, which runs China’s top mobile payments app, today revealed it has secured a gargantuan US$4.5 billion in series B funding. The investment amount is substantial even at a time when billion-dollar funding rounds are increasingly common among giant startups like Uber and Didi Kuaidi. Indeed, Ant Financial’s US$4.5 billion is the biggest ever funding round in consumer tech history. Ant Financial’s mobile wallet app Alipay shown after being
Netflix gains global subscribers, but growth is slowing down
Netflix had a predictably strong first quarter of 2016 in international markets beyond the US, according to its quarterly earnings report (PDF link) that came out Monday. The streaming service that expanded simultaneously in 130 countries around the world at the beginning of the year reports it has reached 81.5 million subscribers globally. Of those, 34.5 million were outside the US during the first quarter of 2016 – 4.5 million more than last quarter. Netflix doesn’t break t
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