In this era, Alibaba Group is single handedly dominating the e-commerce market. The e-commerce giant is also the largest B2B business in the world which has now surpassed the previous e-commerce giants including Amazon, EBay, Wal-Mart etc. The company has been tapping on foreign markets lately to expand its business in the coming times. Being the giant in the e-commerce business, the company is currently focused to expand itself in the same category in foreign countries.
The country that China’s Alibaba Group Holding has targeted in India. Reportedly from Alibaba latest news, it is said that the company is looking for opportunities to set up a proper commerce and mobile oriented incubator in Bangalore, India. The journey that the company has covered in a short span of time is remarkable, Truly, Alibaba needs no introduction for people in today’s world. BidnessETC reports “It seems that Alibaba Group Holding Ltd (NYSE:BABA) is looking to capitalize on the growing e-commerce industry in India. Alibaba Chairman Jack Ma, who met India’s Prime Minister Narendra Modi on Monday during his short stay in the country, will be making another trip in the region by the end of this month, according to several reports circulating on the media.”
According to some reliable sources familiar to the matter, it is said regarding Alibaba news is that the company is considering the Indian retail firms as potential investment targets as well as it is targeting companies that does business in logistics, business to business e-tailing, and electronic payment services etc. Apart from all this, the Chinese tech giant is also interested in investing in three major banks which includes Goldman Sachs, Citigroup, and Bank of America Merrill Lynch which would help the company to kick start the startups and make reasonable deals to make it work in the country.
Alibaba will not have to worry about partnering up with major banks has it has already collaborated with Citigroup and Goldman Sachs back in 2014. However, Alibaba has not yet commented on the matter and these reports so far.
To be precise, the company has so far targeted a Bangalore based Indian startup Globals which specializes in providing mobile and analytics solutions. Alibaba and Globals will together develop a startup incubator which will focus on mobile commerce as well as mobile internet. The founder of Globals, Suhas Gopinath said “We met Jack Ma (Alibaba founder) and his team in Delhi on Monday, and we came to an in-principle agreement on the incubator.”
The Chinese tech behemoth is keen to make its mark in the developed countries as well as the developing countries.