Alibaba remains on top in defining best early investors: Forbes
Updated: 2017-04-21 14:43:40
Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies]
Alibaba Group remained the legend that earmarked last year's best early investors, an annual ranking compiled by Forbes showed.
Despite two and a half years since its record $25 billion initial public offering (IPO), the e-commerce behemoth still ranked first in driving Forbes top 100 investors, followed by Facebook and Uber.
Chinese companies took up half of the top 10 list.
An increase in Chinese consumer spending has bankrolled Alibaba's rapid growth in e-commerce and cloud computing arms, the report noted. Vendors at its platforms sold a record 120.7 billion yuan worth of goods on Singles Day in last November, marking a 32 percent increase from 2015.
The Hangzhou-headquartered tech giant has been also ramping up its investment in digital entertainment and overseas markets.
Alibaba traded at $112.96 a share as of Thursday close, rising 66.2 percent above its offering price in September 2014.
China remains a critical region for venture capitalists, according to Forbes. Last year, funding to Chinese firms rose 19 percent to $31 billion, hitting an all-time high, as industries including artificial intelligence (AI), robotics, and internet of things continue to attract investments.
Didi Chuxing and ZTO Express are the two newcomers in this year's top 10 VC "wonders", ranking eighth and tenth, respectively.
The country's technology startups are expected to continue adding substantial value to total investment worldwide, said the report.