2 days Ago By Ann Cao
Alibaba owns the South China Morning Post. The new capital injection means OceanBase is no longer a wholly owned subsidiary under Ant, which started the database operation in 2010. It is an important step in lining up any potential public listing for the start-up.
Ant had already announced in March that it intended to make OceanBase one of three independent business units with their own boards of directors. The other two companies are Ant International and Ant Digital Technologies. The separation was expected to spur growth and innovation.
The companies will each roll out their own employee share option programmes, which will be “more compatible with their start-up status”, Ant said in an internal letter at the time. Tianyancha does not display the total amount that OceanBase raised in its funding round, but Hangzhou Junhan and Hangzhou Junao – two entities affiliated with Alibaba – are listed as the two biggest shareholders at 25.4 per cent and 19.
7 per cent, respectively. Junhan contributed 50.9 million yuan (US$7 million) while Junao contributed 39.
4 million yuan..
