Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Tencent Reportedly Negotiating Risk-Mitigation Measures to Retain U.S. Gaming Investments
Foxconn to Set Up Chipmaking Joint Venture with Yageo
Excluding Chinese Vendors from Indian 5G Trials Will Hold Back Development, Diplomat Says
Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Self-Driving Truck Startup Plus to Develop Natural Gas-Powered Vehicle With U.S. Engine-Maker
China’s Origin Space Launches Prototype to See How Well It Cleans Up Space Junk
Trending in China: Is Bubble Tea for Tesla Really Such a Bad PR Effort?
TikTok to Set Up European Transparency Center to Ease Data Security Concerns
Alibaba Fintech Arm Agrees to Buy 5% Stake in Brazilian Loyalty Program Giant Dotz

Ding Yi / Apr 22, 2021 04:11 PM / World

Alibaba’s fintech arm Ant Group has reportedly signed an agreement to buy a 5% stake in Dotz, a Brazilian loyalty program with 20 million active users.

Loyalty programs are designed to enhance consumers’ brand loyalty by providing rewards, discounts and other special incentives.

According to the deal terms, Ant will appoint an executive to Dotz’s board and a co-head of the company’s strategy committee, Reuters reported on Thursday, citing a securities filing.

Dotz recently launched an IPO of roughly 815 million reais ($146 million) with plans to start trading its shares in Sao Paulo next month. The Brazilian company said that the deal depends on the conclusion of the IPO, adding that it will also grant Ant an option to buy an additional 10% stake up to 24 months after the IPO, according to Reuters.

In addition, a business cooperation agreement has been inked, which will see the two companies explore new opportunities for digital financial services in Brazil, Reuters said.

The news comes as Ant implements a massive rectification plan at the behest of China’s regulators, which has tightened its oversight of the country’s sprawling fintech giants since the Shanghai Stock Exchange’s suspension of Ant’s blockbuster IPO on its tech-focused STAR Market in November.

Contact reporter Ding Yi (

Related: Update: Ant Group to Remake Itself to Fall in Line With Regulators


Share this article
Open WeChat and scan the QR code