DST Global's Milner sees $4 trillion of new internet companies on online spending boom

Reuters News
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Posted: Jun 08, 2017 9:57 PM

HONG KONG (Reuters) - A surge in online consumer spending in the coming years is seen creating $4 trillion worth of new internet companies, billionaire investor Yuri Milner, founder of venture capital giant DST Global, said on Friday.

Milner, an early backer of internet giants, including Alibaba Group Holding, Facebook Inc and Twitter Inc, expects the percentage of global consumer spending that happens online to more than double to 15 percent by 2025 from 6 percent now, he told a conference in Hong Kong.

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(Reporting by Elzio Barreto; Editing by Muralikumar Anantharaman)