China’s internet giant, the Jack Ma-controlled Alibaba, might soon start competing with Amazon and Flipkart in India as it eyes new markets to hit Ma’s target of two billion users.
Alibaba, which posted quarterly revenue of $4.84 billion on Thursday, has initiated discussions with Vijay Shekhar Sharma-owned Paytm to either fully acquire or own a sizable share in the latter’s marketplace business, Paytm Mall.
“Once that happens, Alibaba can easily acquire a sizable portion of Paytm Mall,” said Sanchit Vir Gogia, Chief Futurist, Founder and CEO of Greyhound Knowledge Group. “Alibaba won’t have to start the business from scratch.”
Source: Hindustan Times