Alibaba announced it was taking a 33 percent stake in their fintech affiliate Ant Financial; the agreement allows for Alibaba to pick of shares of Ant Financial and also ends the revenue share agreement they had in place; TechCrunch reports the deal was focused on “certain intellectual property rights owned by Alibaba exclusively related to Ant Financial.”; Alibaba saw their shares drop after the announcement and many think this is a prelude to Ant Financial’s IPO. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.