In an effort to significantly grow its presence in South Asia, Chinese eCommerce company Alibaba has announced its decision to invest $200 million in Indian online retailer Paytm E-Commerce.
While Alibaba has already invested in various companies that have locations in India, including Snapdeal, this is the first time it has taken a direct action to be involved in an India-based company. It’s also a major step toward increasing Alibaba’s capability to take on eCommerce giant Amazon.
Here are the numbers:
$1.1 billion | Paytm valuation amount with Alibaba investment
$5 billion | Amount Amazon has already invested to become the eCommerce leader
20 to 30 percent | Alibaba’s goal for sales growth outside of China
$1 trillion | Amount to which Alibaba seeks to grow its annual transaction volume by 2020
48 percent | Alibaba’s projected growth for the fiscal year ending in March 2017