Alibaba

The tech giant plans to withhold its investment after Paytm Mall and Snapdeal’s disappointing runs

Alibaba says it is committed to its India presence and did not respond to the speculation

Besides Paytm and Zomato, Alibaba has invested in Paytm Mall, BigBasket and Snapdeal in the Indian market

Zomato has been in talks to raise a $500 Mn - $1 Bn funding round

Ant Financial owns about 22% stake in the company

Ant Financial has secured affirmative rights in Zomato, as part of its investment deal

Berkshire Hathaway had invested $300 Mn in Paytm last year

There was speculation that Combs would join the board as part of the deal

Yao Michael, a senior executive from Alibaba is also said to be joining Paytm board

VMate was launched in India in 2016

UC Web owned company claims to have 30Mn global users

The app directly competes with ByteDance’s TikTok

The company has launched 10 new products and features for global customers

Alibaba says its building products and services that will benefit Indian customers

These announcements were made at the Alibaba Cloud APAC Summit in Singapore

Alibaba has launched a $100 Mn VC fund called BAce Capital

Alibaba through BAce Capital is making smaller bets in India

BAce Capital has already invested in Healofy

The funds will be used for expansion and growth

Till date BigBasket has received funding of $1.02 Bn across 14 funding rounds

In the grocery sector, Flipkart is reportedly in talks to acquire Namdhari Fresh

996 in China refers to working 12 hours a day, 6 days a week,

Jack Ma said that Alibaba has no place for workers who want ‘normal’ work hours

Social media platforms are censoring protests against 996 work culture

BigBasket valuation was set at $1 Bn pre-money with this funding round

Alibaba has invested $50 Mn in the company in this round

Prior to this round, BigBasket had raised a total of $874.6 Mn

India continues to be a ‘strategic market’ says ecommerce giant

Alibaba will comply with all the rules and regulations, said CMO Chris Tung

Alibaba has already set up data centres in India

Gold power packs schemes will not expire and will allow users to avail the service anytime

The scheme offers three different packs with the starter pack priced at INR 300

The scheme targets the consumers do not eat outside regularly

BigBasket valuation was set at $1 Bn pre-money with this funding round

Till date, BigBasket had raised a total of $885.7 Mn across 13 funding rounds

Indian online grocery market to grow at a CAGR of 55% in 2016 – 2021