After announcing its plans of setting up a mobile and commerce focused incubator in Bengaluru, Alibaba is now looking to acquire Indian eCommerce startups that have a large customer base as well as a robust network of merchants.
As per an ET report, the firm is looking at those startups that can help improve customer experience as well as expand its range of products and services. Alibaba is also in talks with many smaller eCommerce players in an attempt to create a large online marketplace model to take on rivals such as Flipkart, Snapdeal and Amazon. Recently, its Founder Jack Ma also met with prime minister Narendra Modi and discussed how the firm can help in empowering small businesses in India.
In March, the firm was in talks with Snapdeal to invest around $1 billion but later, it pulled out of talks with Snapdeal on stake purchase due to high valuations being sought by the homegrown online marketplace. In February, Alibaba Group’s finance arm, Ant Financial had bought a 25% stake in One97 Communications Ltd., owner of Indian online marketplace and payments firm Paytm, for an undisclosed deal amount.
Clearly enough, Alibaba is moving on a path to make a place in Indian eCommerce.Category Business