The online shopping giant, Alibaba, is likely to go for a massive investment in India. In fact, the demand for online business has been growing steadily, and looking into the present trend of increasing turnover, Alibaba forsees tremendous potential in the Indian market. Jack Ma, Alibaba’s founder and Executive Chairman, had a 2-day business trip to India recently to feel the pulse of the country’s e-commerce climate. He seemed satisfied that the present environment leaves adequate scope for expanding his online business still further.
It may be news to many that Jack Ma, a 50-year old resident of Hangzhou, China who started his business about one and a half decades ago with an initial investment of $60,000 is presently having a net worth of more than $ 24 billion and is the richest man of China. His debut on the New York Stock Exchange in September this year with record-breaking $25 billion initial public offering of e-commerce powerhouse Alibaba Group made him a prominent figure in the Forbes.
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It may be news to many that Jack Ma, a 50-year old resident of Hangzhou, China who started his business about one and a half decades ago with an initial investment of $60,000 is presently having a net worth of more than $ 24 billion and is the richest man of China. His debut on the New York Stock Exchange in September this year with record-breaking $25 billion initial public offering of e-commerce powerhouse Alibaba Group made him a prominent figure in the Forbes.
Interestingly, Flipkart, considered to be the market leader in India is now dwarfed by Alibaba, which only sells to businesses here, as also to US-based Amazon. The latter however is scaling up retail operations at a fast pace. In its latest round of funding, Flipkart was valued at $7 billion, compared with a market cap of $155 billion for Amazon and $282 billion for Alibaba. With Alibaba’s plan to increase its investments in India still further, it seems the e-Commerce sector here would stay dominated by the two ‘A’s – Alibaba and Amazon – at least for sometime now.
Author : Syed Zafar Ahmad
Designation: Executive Editor
Bio: A freelancer with a flair for experimenting with innovative technology and electronic gadgets that could enrich the life of a modern common man, and a consultant in issues touching every-day life of a computer suave professional.
Bio: A freelancer with a flair for experimenting with innovative technology and electronic gadgets that could enrich the life of a modern common man, and a consultant in issues touching every-day life of a computer suave professional.
