China’s Alibaba Group Holding Ltd. will lead a $200 million round of investment in newly established Indian online retailer Paytm E-commerce Pvt, a person familiar with the matter said.
The investment by Alibaba and private equity firm SAIF Partners values the company at $1.1 billion, said the person, who didn’t want to be identified talking about a private deal. It deepens Alibaba’s investment in a burgeoning e-commerce market now dominated by Amazon.com Inc. and Flipkart Online Services Pvt. “India is an important emerging market with great potential. We are committed to working with local partners with the aim of developing a long-term, sustainable business,” Alibaba said in an e-mailed statement while declining to comment on specific deals.
Submitted February 03, 2017 at 05:41AM by MartEden http://ift.tt/2jKmUcK
