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Alibaba Stops Fresh Investments in India
August 27, 2019
Alibaba Group Holding Ltd. Which is one of the largest investors in Indian start-ups like Zomato and Paytm has decided to temporarily stop fresh investments in the country as it reviews its strategy for the country.
According to the people who are aware of Alibaba’s plans, the company is no longer looking for deals in the country as it did earlier.
Alibaba’s portfolio in India includes Zomato, Snapdeal, Xpressbess, and Paytm Mall. However, some of its biggest investments like Paytm Mall and Snapdeal have proven to be wrong in hindsight.
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