Peng Lei (彭蕾) or Lucy Peng was listed as the 35th most powerful woman in the world by Forbes, No.35 on their list of Power Women for 2016, and No.17 on their list of Asia Power Women for 2016. In 2015, she was ranked as the third richest woman in the tech sector by Wealth-X, and the No. 11 Most Powerful Woman in Asia by Fortune.

Ant’s latest fundraising, expected to bring in $3.1 billion, gives the Alibaba offshoot a valuation of more than $50 billion, making it one of the most valuable privately owned companies (a hair under Uber’s $51 billion). It’s the second round of financing for Ant; the first, last year, valued it at $45 billion. Lucy Peng, a cofounder of Alibaba, established the online financial services company in 2014 to cater to small businesses and “the little guys.” Now she is taking it global. In September Ant and Alibaba took a combined 40% stake in Paytm, India’s largest mobile commerce platform, for $900 million; a month later Ant received Korean regulator approval to invest in Internet bank K Bank. But Ant’s main money earner is Alipay, China’s version of PayPal and the payments system behind Alibaba, with 400 million registered users.

Peng earned a degree in business administration in 1994 from Hangzhou Institute of Commerce of Zhejiang Gongshang University. Following her graduation, she taught at the Zhejiang University of Finance and Economics for five years. Peng quit teaching shortly after marrying, and with her husband (who would later run Taobao, Alibaba’s eBay reminiscent marketplace) joined Jack Ma in founding Alibaba in September 1999. They were one of the many husband and wife teams making up the 1/3rd ratio of women amongst Alibaba’s founding partners that the company would later become positively praised for.

Her early responsibilities with the company involved managing the HR department of Alibaba, which she herself created. During this period, one of her notable accomplishments is developing the “mom and pop” model at Alibaba, in which one “mom” focused on teamwork and motivation, while one “pop” handled performance assessments.

From January 2010 to February 2013, Peng was the CEO of Alipay. Alipay became the most successful payment gateway within China under her management, expanding to over 800 million users as of 2014. As of the end of 2014, it was valued at around $60 billion.

In March 2013, Peng took over as CEO of Alibaba Small and Micro Financial Services. There, she made significant progress in searching for innovations in the mobile payments system.

Three years after she began teaching, Peng married Sun Tongyu. She later divorced him for a short period, but then remarried him again.

Wikipedia / Forbes

 

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