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Chinese Alibaba Baidu Swallowing India’s Start-ups

According to people in the know, Alibaba has discussed alliances with several online marketplaces, including Snapdeal and Shopclues. It has also held talks with business-to-business (B2B) players, logistics companies, and technology start-ups.

Another Chinese Internet major Baidu also has held talks with a number of players, including Zomato and Shopclues, but nothing significant has emerged.

India is a focus market for Alibaba and it plans to take on Amazon when it enters. During a recent earnings call, Alibaba provided an indication of its India plans, mentioning its investments in Paytm.

“The other emerging market is India, where we have decided to play some very strategically located assets in that market. We invested jointly with Ant Financial into a company called Paytm, the largest mobile wallet company in India. We think mobiles and payment are going to be important strategic assets for us in that market,” Joseph C Tsai, executive vice-chairman, Alibaba, said.

Alibaba Group is the largest shareholder of One97 Communications, which owns and operates Paytm, with an investment of $680 million.

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Source: BusinessStandard

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