Last week, Ant Financial, the financial services affiliate spun off by New York-listed, China-based e-commerce group Alibaba, agreed to invest $200m in Kakao Pay.
When the Chinese state directs a policy, action tends to follow. But rather than take the government’s 2014 directive to “Go Global” as solely requiring majority acquisition of overseas companies or trying to expand products directly, there has been a fascinating mix of strategies underpinned by corporate venturing – taking minority equity positions in private third-parties.
Last week, Ant Financial, the financial services affiliate spun off by New York-listed, China-based e-commerce group Alibaba, agreed to invest $200m in Kakao Pay.
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