Chinese eCommerce company Alibaba is planning to setup an incubator in Bengaluru which will focus on mobile and eCommerce. The incubator is being setup with the city-based mobile and analytics solutions company Globals, which was launched 11 months ago.
“We met Jack Ma (Alibaba founder) and his team in Delhi on Monday, and we came to an in-principle agreement on the incubator,” said Suhas Gopinath, Globals’ Founder. The incubator is expected to be live in June this year and plans to pick five startups that will undergo a year long program.
Apart from this, Alibaba has made several investment in recent times. The firm had invested $575 million in the Indian eCommerce company and digital payments company, One97 Communications Ltd. It also invested $215 million in US based instant messaging and free calling app Tango, an undisclosed amount in Chinese mobile Internet company, UCWeb Inc., and $120 million in US based entertainment company Kabam.