ALIBABA: BETTING BIG IN INDIA
CHINESE ONLINE major Alibaba group is on an investment spree in the Indian e- commerce market. Alibaba first invested $ 300 million in online grocery store Big Basket and, subsequentÂly, its affiliate Ant Financial invested $ 200 million in food discovery and delivery app Zomato. A short while back, Alibaba had acquired a stake in Xpressbees, a logistics start- up; it already had a presence in Paytm Mall. Alibaba now joins SoftBank and Tencent in being the top three investors in Indian start- ups.