E-commerce giant Amazon,Alibaba is to invested 4000 crore rupees in m-commerce giant Paytm. Alibaba has picked up 25% stake in Paytm’s parent company 197 through its subsidiary Financial. Earlier Alibaba has done investments in Snapdeal, Freecharge and now in Paytm which is the largest mobile-payments space in India. Paytm has 80 million digital wallets and Alibaba is interested in this major mobile commerce player in this mobile 1st market to topple the largest global rival Amazon. Through the partnership with Alibaba Indian E-commerce players now also has access to Chinese market. It should be noted that the Indian merchants are 2nd biggest sellers on Alibaba portal after the Chinese.
Amazon,Alibaba is to invested INR 4000 crore in Paytm
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