Alibaba hits pause on fresh India investments

  • Mumbai: Alibaba Group Holding Ltd , one of the biggest investors in Indian startups such as Paytm and Zomato, is temporarily halting fresh investments in the country as the Chinese e-commerce giant reviews its India strategy, four people aware of the development said.
  • Alibaba’s four-member investment team in India led by Raghav Bahl, who was appointed last August from Bessemer Venture Partners, has been mandated to currently manage only the existing portfolio, said the people cited above, requesting anonymity.
  • Billionaire Jack Ma-led Alibaba has made wide-ranging investments in Indian startups.
  • The Times of India reported on 19 August that Amazon is planning to enter food delivery through its Prime Now service and has held talks with Ola’s Foodpanda and UberEats for a partnership.

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