Alibaba proposed $575 million investment in India One97 Internet company

note: hunting cloud raised $25 billion, ali is important one job is around the layout of internationalization, the rapid outbreak of market is also attracting interest in ma. The following translated by tencent technology manuscript.

the Wall Street journal said, citing people familiar with the news alibaba group and its subsidiaries of financial services – zhejiang small ants micro financial services group co., LTD have agreed together to India online business website One97 Communications company (hereinafter referred to as the “One97 company”) online payment and marketing business invest about $575 million.

alibaba in the United States in September last year, raising $25 billion, and became the largest in American history for an initial public offering (IPO). Alibaba group is mainly engaged in the network market, the group of zhejiang small ants micro financial services group co., LTD. Is mainly engaged in business, pay treasure to provide online payment service.

people familiar with the claim that if the deal goes well, then alibaba and zhejiang small ants micro financial services group co., LTD., are teaming up to get One97 a 30% stake in the company, in this way, One97 company’s value will exceed $2 billion. However, according to people familiar with the matter, alibaba group, the investment will mainly flow to One97’s Paytm business department. Paytm department is primarily deal with online payment, and operates Internet shopping business. Consumers can through their mobile phone to use Paytm these services.

at present, alibaba group spokesman has yet to have refused to comment on the rumours. At the same time, a spokesman for the One97 just responded that the company is situated in financing process. One97 spokesman told the media, said: “we will communicate again in financing process has been completed.”

the investment will be alibaba group of India’s small but fast growing e-commerce industry’s first investment. Recently, India e-commerce industry develop very quickly, and attracted more than the international market investor relations. For example, amazon, Japan’s softbank and other investment institutions have invested heavily to India e-commerce industry. These investors believe that India’s online shopping market will have a booming spring.

alibaba group has been trying to expand overseas market, in order to let more overseas retailers selling the product to Chinese consumers, but also help China sellers into other international markets outside of China.

Paytm aspect, according to the department’s online market there are about 15000 businesses, the main sales of electronic products, clothing and accessories, etc. Paytm now has about 25 million registered users, mobile money users number about 20 million, and for the Uber, Joyce and reality, several companies to provide services.

according to people familiar with the matter, according to the current new protocol (needs to be approved by Chinese regulators), Indian consumers will be able to pay by Paytm alibaba web site, and for shopping, and Chinese consumers would be able to pay treasure from merchants who sell goods on Paytm website shopping. People familiar with the matter said, a seller of alibaba website will also be able to release on Paytm of products available for sale, the reverse is also true, Paytm website can also release of goods available for sale on alibaba web site.

people familiar with the matter said, One97 will use the alibaba group, most of the investment funds, to expand Paytm department business online shopping website, pay technology and further research and development. As part of the agreement, Paytm technology will be able to access to the alipay, including payment gateway, mobile wallet system and anti-fraud measures and related technology.

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