Last month, Amazon inaugurated its only corporate office outside the US in Hyderabad. Now Alibaba Group is reportedly planning to launch its wholly-owned e-commerce business this FY19.
Alibaba will launch the e-commerce business through its subsidiary UCWeb. The Vice President of UCWeb Global Business, Huaiyuan Yang said that the plan is not going to influence the market of Paytm adversely. Alibaba owns around 30 per cent stakes in Paytm.
He said, “Ecommerce is very vast business. There are various part of ecommerce business and several products. UC will choose section according to our business. We will partner with the right players and we will not compete with them (Paytm)”.
UC Browser is an UCWeb’s product available since 2009 in India. UC Browser claims to have 1.1 billion registered users worldwide, with half of the total in India. It also claims to have active 130 million monthly active users across the nation.
Alibaba reportedly invested $100 million in a short video sharing app launched by UCWeb, VMate. VMate will be launched to enter into a dense social media app space market of India.
The company is said to have missed entering the Chinese social video app market, while it is planning to enter India’s rapidly growing social video apps market through its investment in the UCWeb.
Selina Yuan of Alibaba Cloud Intelligence International claimed that Alibaba’s cloud computing services are ready to enter in India in the coming year.
Alibaba already has shares in major Indian startups such as Zomato, Bigbasket and Snapdeal.