Alibaba to invest $177 mn in Paytm E-Commerce, hike stake to 62%

AlibabaPaytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt. Ltd, a wholly-owned subsidiary of Chinese internet giant Alibaba Group Holding Ltd, a financial daily reported on Thursday. Alibaba will invest $177 million (Rs 1,182 crore) […]

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Paytm investor Alibaba’s Ant Financial to buy US firm MoneyGram for $880 mn

AlibabaIn step with its international ambitions, Ant Financial Services Group, the payment business arm of Chinese e-commerce giant Alibaba Group, has agreed to buy US money-transfer company MoneyGram for $880 million. Alibaba and Ant Financial hold a significant stake in One97 Communications Ltd, the parent company of mobile wallet firm Paytm. Reuters reported that Ant […]

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Alibaba gearing up for India entry, to open office in Mumbai

AlibabaFurther fueling speculations of its imminent entry into the Indian market, Chinese e-commerce major Alibaba Group is establishing its first office in the country in Mumbai. Jack Ma-owned Alibaba is setting up an office at Bandra-Kurla Complex (BKC) in Mumbai, reports Business Standard. The company has rented 3,221 sq ft of office space at Platina […]

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Exclusive: China’s Tencent close to investing more than $150 mn in FreeCharge

snapdeal_feSnapdeal, India’s third-largest e-commerce venture is in talks with Chinese Internet giant Tencent to raise more than $150 million for its digital payments platform FreeCharge, a person close to the development told VCCircle. “Tencent and FreeCharge have had intense discussions over the past two weeks and the talks are in advanced stages,” the person said […]

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Alibaba may pick majority stake in Paytm’s e-commerce biz

AlibabaOnline and mobile commerce giant Alibaba, which owns a significant stake in One97 Communications Pvt. Ltd that runs mobile payment and commerce platform Paytm, is likely to pick a majority stake in Paytm’s e-commerce business, a senior company executive said. Paytm has created a separate entity for its online retail business under Paytm E-Commerce Pvt. […]

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