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Alibaba to hike stake in Paytm

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.
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