Why Ant Group's IPO was pulled by Chinese regulators – The Indicator from Planet Money

Qilai Shen/Bloomberg/Bloomberg via Getty Images Qilai Shen/Bloomberg/Bloomberg via Getty Images Ant Group is a Chinese financial services company co-founded by Jack Ma, the billionaire entrepreneur behind Alibaba. Over the past decade, Ant has become a one-stop shop for payments, financial investment, securing loans, and numerous other financial services. The company has garnered a reputation for its massive range of offerings, allowing users to do everything from pay restaurant bills to build investment portfolios. Since 2014, Ant has amassed over 700 million monthly users. Ant’s rapid success led to an initial public offering (IPO) that was set to launch in November…