Race to tap Indian market heats up as Alibaba launches new platform
After China's e-commerce giant increased their stake in India’s Paytm last week, the company announced Wednesday the launch of a new online platform.
Alibaba Mobile Business Group head He Xiaopeng announced Wednesday the launch of a new online self-creating content platform in India. Just last week, the company increased their stake in Indian e-commerce firm Paytm, reported Forbes India. He said the platform, We-Media Reward Plan 2.0, looks to tap into the more than 400,000 and growing group of self-publishers operating in India. The move comes as Alibaba competes with Amazon to take advantage of India’s vast potential for growth in the area of online services.