Alibaba won't be making any fresh investments in India: Reports
- According to reports,
Alibabais pausing on its India startupinvestments.
- It has made big bets on India like
Paytmand Paytm Mall, Zomato, BigBasket, Snapdeal and logistics firm Xpressbees.
- Alibaba was also reported to have been looking at a deal with Reliance Retail.
In a response to Moneycontrol, Alibaba said that it remains committed to the Indian market.
Alibaba was also reported to have been eyeing deal with Reliance Retail. However, these deal talks seem to have fallen through.
Alibaba has placed big bets in the Indian market with top startups like Paytm and Paytm Mall, Zomato, BigBasket, Snapdeal and logistics firm Xpressbees. However, Alibaba hasn’t exited from any of their investments.
In May, Alibaba was rumoured to be re-evaluating its India strategy to turn its focus to smaller ticket deals in India. This is after having made large investments with great emphasis on big and successful companies.
This move comes after Alibaba’s much talked about Hong Kong IPO was delayed, owing to the political unrest. Alibaba’s first IPO in 2014 in the US created history in the market as it raised $25 billion. But investors will have to wait for yet another possibly stellar debut atAsian financial hub – Hong Kong.