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Alibaba Group Holding Ltd. (NYSE: BABA), is said to have raised a $4.5 billion Series B funding round, the world’s largest private fundraising round for an Internet company, at a $60 billion valuation. The record-breaking funding round was driven by state-owned Chinese investors including sovereign-wealth fund China Investment Corp. (CIC), and state-owned China Construction Bank’s CCB Trust, with the participation of previous investors China Life Insurance, China Post Group, China Development Bank Capital, and Beijing and Hong Kong-based private equity firm Primavera Capital Group, founded by Dr. Fred Hu , a former partner and chairman of Greater China at Goldman Sachs Group (NYSE: GS). The move comes within weeks after Alibaba confirmed a $1.25 billion investment in Chinese food delivery startup, and after acquiring control of Singapore’s e-commerce platform Lazada Group for $1 billion. Businesses operated by Ant Financial include Alipay, Ant Fortune, Yu’e Bao, Zhao Cai Bao, Ant Micro Loan, Sesame Credit and MYbank. Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision “to turn trust into wealth,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. The group was officially launched by Alibaba in October 2014. Ant Financial is the world’s leading third-party payment platform, and reportedly has more than 450 million active users. Alibaba Group’s mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses.]]>