Alibaba to hike stake in Paytm
Thursday, March 2, 2017, 6:20 PM
Alibaba Singapore E-Commerce Private Limited will invest $177 million in Paytm while remaining amount will come from SAIF, this stake will increase by 22% to 62%. Alibaba's entry could lead to the much-needed shakeout in the online retail industry. India's online retail market is expected to reach $69 billion by FY20, according to Goldman Sachs. Paytm also launched new e-commerce website Paytm Mall.