Alibaba reportedly in talks to acquire Shopclues
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The Gurgaon-based ShopClues numbers
Investment bankers have taken multiple deal propositions to Alibaba in recent months. The Jack Ma-led Chinese goliath is hoping to sew up combination moves to challenge Amazon, which has already emerged as the nation's second-largest online marketplace and is seen threatening Flipkart's leadership. This includes getting a significant stake in
The media has speculated about Alibaba's interest in Flipkart, however these parleys have stalled over differences in valuations. Incidentally, Flipkart has likewise been rumored as a potential suitor for ShopClues since Tiger Global is a large regular investor in both.
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Meanwhile, Alibaba bunch, which holds around 40% stake in Paytm, has already started the process to separate the Noida-based organization's core payment business and the smaller commerce business into two separate entities. Alibaba is keen on moving the battling and money swallowing marketplace of Paytm into one of the larger blends it is seeking after in the nation. Paytm clearly sees its future as a payments organization and has attempted to locate a new investor or sell off the commerce in recent past.
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