202012 Nov
Cloud-based security service provider Menlo Security raises $100M Series E led
Type
Funding Rounds
Companies
Funding
202012 Nov
$100MOthers
Source
Launchticker
Summary

The suspension of Ant Group’s dual IPO was triggered by Alibaba founder Jack Ma’s criticism of China’s financial industry, according to sources for the Financial Times; Ma, who owns ~9 percent of Ant Group, gave a speech last month in which he suggested China’s banks have a “pawnshop mentality”; he also said the country needed a new player to shakeup the personal finance industry; Ma met with regulators shortly before the public listings were pulled - Link People close to Ma asked him to soften his language ahead of the public address, according to Reuters sources; Ma refused because he felt it was important to share his unfiltered views; financial regulators and government leaders were reportedly upset by the comments; the sources also doubt whether Ant Group will be able to reestablish its dual IPO in the coming months; follows a report it may have to spin off its consumer loans unit - Link

Classifications
  • Security
  • Virtualization & Network Resources
  • Networking
  • Fintech & Banking
  • Healthcare