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Alibaba Eyes Full-Fledged Ecommerce Venture in India This FY
September 09, 2019
Alibaba Group, using its subsidiary UCWeb, is looking to launch a fully-owned e-commerce entity in India this financial year. The information was shared by UCWeb Global Business Vice President who said that the company is aiming at launching an innovative business model related to e-commerce.
Since Alibaba also has a major stake of 30.15% in Paytm, Yang clarified that the company’s foray in e-commerce will be with care and caution in a way that it doesn’t compete with Paytm.
UCWeb’s UC Browser has been used in India since 2009. The company claims to have over 1.1 billion users of the product.
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