The $200 million investment in Paytm E-commerce is expected to pave the way for Alibaba's entry into India, where it will compete with Amazon and Flipkart
New Delhi: Chinese e-commerce major Alibaba Group Holding Ltd, along with investment firm SAIF Partners, are set to invest $200 million in Paytm’s online marketplace unit.
Alibaba Singapore E-Commerce Pvt. Ltd will invest $177 million in Paytm E-Commerce Pvt. Ltd—a unit of Vijay Shekhar Sharma’s One 97 Communications Ltd that operates under Paytm brand. The remaining amount will come from SAIF Partners, an early investor in One97, according to a filing with the Registrar of Companies.