Jack Ma, the founder of China’s largest ecommerce company Alibaba, is neither a Harvard nor a Stanford graduate. He was actually rejected by Harvard, 10 times. He is just street smart, and it has worked wonders for him. At least, so far. Slowly and carefully, he has been making his move towards India, like a tiger who is waiting for the right moment to pounce on its prey.
And it seems, he has just made the big leap. Alibaba, the NYSE listed online retailer who debuted with the world’s biggest ever IPO, has announced its entry into India. But, how he will execute this plan is not yet known.
Also, the Assocham report states that the Indian ecommerce market is poised to be worth $38 Bn by the end of 2016, which leaves a surfeit of opportunities for the etailers in this segment.
Hence, it is a good time and chance for Alibaba to mark its entry in the B2C ecommerce segment, although, it has been trying to enter the Indian consumer market for a long time. In May 2015, Alibaba had reportedly tied up with Paytm to add about 1 Mn merchants from China on Paytm’s platform, along with adding 100 million SKUs. But it seems that the deal did not strike off. Though the Chinese ecommerce firm could not establish itself in the B2C space, it has been operating in the B2B ecommerce business since 2009, after it entered into a strategic partnership with Infomedia. Its B2B division is said to have over 4.5 Mn sellers on board in the country.
In one of his statements, Jack Ma, Chairman of Alibaba Group, had said that