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Two-thirds of the 21 tech IPOs in the past year are below their issue price, with shares down an average of about 20 per cent through Friday.
Warburg Pincus and Temasek are also joining the round, which would make Ant the world’s largest fintech firm.
The startup’s fluctuating valuation is partly due to mixed messages about what Xiaomi does. While 70% of revenue comes from selling smartphones, co-founder Lei Jun insists that Xiaomi’s real goal is to be an internet services company making money off ads and online games.
Ant Financial is in the process of raising at least $10 billion at a $150 billion valuation from investors led by Temasek Holdings Pte.
Alibaba is projected to post its first decline in profit in a year and a half — the result of folding in major loss-making businesses and heightened spending.
The women-focused shopping site is seeking to double its valuation since its last round of funding over two years ago.
Meilishuo, which merged with rival Mogujie in 2016 to form a company with $3 billion in sales, was said to have been valued at $3 billion at the time of that deal.
The latest round values it at $15 billion.
WeWork has been on a shopping spree for the past year.
If the deal goes ahead, Ant would be the world’s biggest startup with a valuation of $150 billion.