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Reading: Alibaba cleans up payments before IPO
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PhotoNews > Tech > Alibaba cleans up payments before IPO
Tech

Alibaba cleans up payments before IPO

Last updated: 2014/08/14 at 3:28 PM
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Weeks before the Chinese e-commerce juggernaut is due to start a roadshow for an initial public offering, it has tidied up relations with its payments affiliate. Though the new arrangement is still a lot messier than shareholders might want, it should make for a neater IPO.

Alibaba’s relationship with Alipay is complex and sensitive. The unit processes more than three-quarters of the transactions on the Chinese group’s websites, but has been owned by a private vehicle controlled by founder Jack Ma since 2011. That business, known as Small and Micro Financial Services Company (SMFSC), is also home to other ventures like its fast-growing money market funds. For customers, the units connect seamlessly. The corporate links are more complicated.

The latest reshuffle aims to draw a clearer line between the two entities. Alibaba will focus on e-commerce, while SMFSC will stick to finance. As part the deal, Alibaba is handing its affiliate a portfolio of loans to small- and medium-sized enterprises. The transfer helps to reduce the risk of meddling by Chinese financial regulators.

TAGGED: Alibaba cleans up payments, Alibaba’s relationship with Alipay, Chinese e-commerce, Jack Ma, Small and Micro Financial Services Company (SMFSC)
admin August 14, 2014
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