Alibaba might acquire an Indian site for online movie ticket booking
Advertisement
Advertisement
The Jack Ma-founded company holds major shares in India’s popular digital payment app Paytm.
Also read: Alibaba all set to take B2B in India to a whole new level, to aid sellers on its platform
"Within the group, there is already a momentum like the Paytm investment," He Xiaopeng, president of mobile business at Alibaba, told ET. "We are also going to have some investment in online movie tickets booking sites."
He added that they are looking for sites similar to BookMyShow, a major player in the industry.
Advertisement
As per recent reports,
The reason why Alibaba is attracted to India is that even though there is a global slowdown, the number of mobile phone and internet users in India is continuously growing.
The entry of Reliance Jio in the telecom sector is being seen as a good sign by Alibaba, since the low data tariffs offered by Jio would only mean a rise in the number of internet users.
(Image source: CNBC)
Advertisement
Advertisement
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’