Alibaba Aims To Firm Up Its India Entry With Shopclues Deal
Chinese E Commerce giant Alibaba is reportedly planning to acquire online marketplace ShopClues.com. The move is considered to be an attempt to overtake the established OLS players in the country such as Amazon and Flipkart. According to the TOIreport, Alibaba wants to merge the marketplace of Paytm, in which it has a stake, with the much bigger rival ShopClues. According to the report, the Gurgaon-based ShopClues numbers GIC of Singapore, Tiger Global, Nexus Venture Partners and Helion among its investors and has raised about $250 million till date. ShopClues is positioned...
