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• Case | HBS Case Collection | March 2017 (Revised March 2019)

  Ant Financial (A)

  Feng Zhu, Ying Zhang, Krishna G. Palepu, Anthony K. Woo and Nancy Hua Dai

  Headquartered in Hangzhou (China), Ant Financial has grown into a fintech “Unicorn.” The fintech empire that the company established spanned verticals such as mobile and online payment (Alipay), money market fund (Yu’e Bao), wealth management (Ant Fortune), digital-only banking (MYbank), credit scoring (Zhima Credit), and consumer credit portal (Ant Credit Pay) among others. After another sales record during the 2016 11.11 Global Shopping Festival along with Alibaba, Long Chen, chief strategy officer of Ant Financial, was contemplating the various opportunities and challenges associated with the firm’s international expansion, inclusive finance in rural regions, and regulatory uncertainties.

  Keywords: Growth and Development Strategy; Global Strategy; Finance; Opportunities; Financial Services Industry; Technology Industry;

  Citation:

  Zhu, Feng, Ying Zhang, Krishna G. Palepu, Anthony K. Woo, and Nancy Hua Dai. "Ant Financial (A)." Harvard Business School Case 617-060, March 2017. (Revised March 2019.)  View Details

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• Teaching Note | HBS Case Collection | March 2019

  Ant Financial (A), (B), and (C)

  Feng Zhu, Krishna G. Palepu, Kerry Herman and Susie Ma

  Citation:

  Zhu, Feng, Krishna G. Palepu, Kerry Herman, and Susie Ma. "Ant Financial (A), (B), and (C)." Harvard Business School Teaching Note 619-030, March 2019.  View Details

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• Article | Journal of Economics & Management Strategy

  Friends or Foes? Examining Platform Owners' Entry into Complementors' Spaces

  Feng Zhu

  As platform owners continue to expand their ecosystems, many of them have started to provide consumers with their own complementary applications. These moves position the platform owners as direct competitors to their complementors. This paper surveys empirical studies that examine the direct entry of platform owners into complementors’ product spaces. It finds that both the motivation and impact of such entries on complementors are multifaceted. The motivation behind platform owners’ direct entry goes beyond value capture, and the impact of platform entry on complementors varies across empirical settings. It identifies several future research directions that can help advance our understanding of the relationships between platform owners and complementors.

  Keywords: platform; complementors; Market Platforms; Market Entry and Exit; Competition;

  Citation:

  Zhu, Feng. "Friends or Foes? Examining Platform Owners' Entry into Complementors' Spaces." Special Issue on Platforms. Journal of Economics & Management Strategy 28, no. 1 (Spring 2019): 23–28.  View Details

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