Will Alibaba Rule India Like It Rules China?

BANGALORE: Alibaba, a trailblazing Chinese internet giant is already dominating the e-retail market in China and now by making a possible investment of $300 million in Snapdeal, it is all set to become the biggest e-commerce market in the world.

Alibaba Group Holding, the e-commerce company started in 1999 with $60,000 paved together by Jack Ma, lined its status as a symbol of China’s economic emergence by raising $21.8 billion in a U.S. initial public offering.

Although Snapdeal, the popular e-tailer, has not made any official statements regarding the deal, according to the sources, Alibaba is planning for some big shots in e-commerce trend by betting on Snapdeal to enter India’s booming e-commerce industry.

Snapdeal has already received funding worth 830 crore in February from its existing investor, eBay and others. In May, Snapdeal raised about 600 crore from Temasek, BlackRock Inc, Myriad, Premji Invest and Tybourne. Snapdeal offers over 5 million products across 500 varied categories from over 50,000 sellers.

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