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<ul><li><strong>Paytm's stocks  saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.</strong></li><li><strong>Sources have confirmed that Chinese group Alibaba is behind the block deal.</strong></li><li><strong>According to sources, Alibaba seems to be making an exit from India as it had sold shares in other investments as well<br /></strong></li></ul><br />Paytm's stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.<br /><br />The shares were sold at Rs 535.90 worth Rs 13.93 crore.<br /><br />Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total <br />equity of about 6 per cent. With this block deal, Alibaba, the sources said, seems to be making an exit from India as it had sold shares in other investments such as BigBasket and Zomato.<br /><br />This is expected to bring cheers among investors. With Chinese shareholding reducing their stake, it will benefit the company in their Foreign Direct Investment (FDI) aspect.<br /><br />Paytm shares' intraday low was Rs 528.10. In fact, immediately after the block deal it soon recovered some part of the losses.<br /><br />Paytm's shares had been steadily rising for the past few days after there were several good news floating about the company. Its associate <keyword id="3236791" type="General" weightage="80" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> has received <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> approval to appoint <keyword id="5719896" type="General" weightage="80" keywordseo="surinder-chawla" source="Orion">Surinder Chawla</keyword> as its Managing Director and CEO.<br /><br />The company had posted a strong operating performance update for the October-December quarter.<br /><br />The Paytm Super App continued to see growing consumer engagement with the average Monthly Transacting User for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent on a yearly basis.<br /><br />The total merchant <keyword id="2185962" type="General" weightage="80" keywordseo="gross-merchandise-value" source="Orion">Gross Merchandise Value</keyword> processed through the platform for the quarter ended December 2022 aggregated to Rs 3.46 lakh crore (USD 42 billion), marking a year-on-year growth of 38 per cent.<br /><br />The number of loans grew 117 per cent yearly to 3.7 million for the month of December, and 137 per cent to 10.5 million cumulative loans for the three months ended December 2022.<br /><br />As a result, total disbursements for the three months ended December 2022 was Rs 9,958 crore, a growth of 357 per cent on year.<br /><br />Paytm believes it continues to be on track for its profitability plans, with robust revenue growth driven by its strong business model.<br /><br />Meanwhile, brokerage and global investment firm <keyword id="48670" type="General" weightage="80" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>, in a report, pegged Paytm's shares target price to be at Rs 695 going ahead as against Rs 579 at Wednesday's close. It essentially means there is an upside potential of about 20 per cent returns on investment for investors. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-will-be-key-beneficiary-of-indias-upi-incentive-scheme-morgan-stanley/articleshow/96933995.cms">Paytm will be key beneficiary of India's UPI incentive scheme: Morgan Stanley</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tcs-revenue-growth-to-slowdown-in-fy24-fitch-ratings/articleshow/96933754.cms">TCS revenue growth to slowdown in FY24: Fitch Ratings</a></strong>

Alibaba exiting India? Paytm among other Alibaba-owned stocks seeing selloff

In a block deal, 3.4 per cent equity (or 2.1 crore shares) of <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword>'s parent company One97 <keyword id="4584578" type="General" weightage="50" keywordseo="communications-ltd" source="Orion">Communications Ltd</keyword> (OCL) changed hands on Friday.<br /><br />Sources in the know of the development say that Chinese multinational Alibaba has sold its entire stake in Paytm in today's block deal.<br /><br />With this sale, Alibaba is no longer a stakeholder in Paytm. The company had sold around 3.1 per cent of 6.26 per cent equity in Paytm in January.<br /><br />This latest deal almost completes Alibaba's exit from <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> since it had earlier sold its stakes in <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="964794" type="General" weightage="20" keywordseo="bigbasket" source="Orion">BigBasket</keyword>. The news will bring cheer to the market as it ends the Chinese stakeholding in the homegrown Paytm.<br /><br />Paytm's shares have been rallying in the last few days since it announced operating profitability in its Q3FY23 results with EBITDA before ESOP cost at Rs 31 crore, significantly ahead of its guidance of September 2023.<br /><br />The fintech giant revenue from operations increased to Rs 2,062 crore (no <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> incentive recorded this quarter), a growth of 42 per cent on a yearly basis. This was followed by Paytm's robust operating update of January 2023 that it filed with the stock exchange on February 8.<br /><br />The company has continued to witness sustained growth momentum in its key payments and lending business. Paytm strengthened its leadership in offline payments with the deployment of 6.1 million devices while its average MTU at 89 million registered a 29 per cent growth for the month of January 2023. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/what-is-formula-e-all-you-need-to-know-ahead-of-inaugural-race-in-india/articleshow/97795878.cms">What is Formula E? All you need to know ahead of inaugural race in India</a></strong><br /><strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rrr-kgf-chapter-2-game-of-thrones-spider-man-no-way-home-among-most-pirated-content-in-india-in-2022/articleshow/97795322.cms">RRR, KGF Chapter 2, Game of Thrones &amp; Spider-Man: No Way Home among most-pirated content in India in 2022</a></strong><br />

Chinese multinational Alibaba exits India, sells its entire stake in Paytm

<br /><ul><li><keyword id="212412" type="COMPANY" weightage="20" keywordseo="Tencent">Tencent</keyword> is reportedly looking to set up a new regional hub in Singapore. <br /></li><li>The Chinese company’s hiring site has over 70 open positions for its operations in the island-nation as it follows in the footsteps of <keyword id="3749909" type="PERSON" weightage="20" keywordseo="Bytedance">Bytedance</keyword> and <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>.<br /></li><li>The appeal of shifting to Singapore has increased for Chinese technology giants as China tightens its grip on Hong Kong.<br /></li></ul>The Chinese app developer behemoth Tencent Holdings has had a rough month. But, it hopes to turn things around by setting up a new headquarters in Singapore, following in the footsteps of TikTok-parent Bytedance and e-commerce giant Alibaba. <br /><br /><div type="Article" hostid="261" msid="77890776" title="India bans PUBG, Ludo World, and 116 other Chinese mobile applications" mstype="2" mssubtype="0"></div><br /><a href="https://www.bloombergquint.com/business/tencent-picks-singapore-as-asia-hub-after-india-u-s-bans">Bloomberg</a> reports that the island nation will be the company’s new regional hub and geopolitical tensions continue to bear down on its operations. The appeal of Singapore for Chinese companies has increased in recent months as Beijing tightens its grip on Hong Kong.<br /><br />On Tencent’s <a href="https://careers.tencent.com/en-us/search.html?query=co_11&amp;sc=11">hiring site</a>, there has been a surge in the number of postings in Singapore — over 70 different vacancies — covering sales, technology development, human resources, product development, legal and policy affairs, and finance. <br /><br />Tencent is yet to respond to Business Insider’s request for comment.<br /><br /><strong>Tencent joins other Chinese technology giants<br /></strong>Tencent isn’t the only Chinese company looking to Singapore to undercut the anti-China narrative. <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>’s owner <a href="https://www.straitstimes.com/asia/east-asia/tiktok-parent-plans-to-invest-billions-in-spore-add-hundreds-of-jobs">Bytedance</a> is also planning to set up in Singapore along with <a href="https://www.straitstimes.com/business/companies-markets/alibaba-in-talks-to-invest-us3-billion-in-grab">Alibaba</a>.<br /><br />Bytedance is <a href="https://www.aljazeera.com/ajimpact/bytedance-faces-exit-tiktok-singapore-beckons-report-200911083458622.html">reportedly</a> leading the consortium of Chinese companies that have applied for a digital bank license from Singapore apex banking institution, the Monetary Authority of Singapore (MAS). It comes as it looks to invest billions and add hundreds of jobs in the country over the next three years.<br /><br />Alibaba has already invested $4 billion to take control over Singapore’s homegrown e-commerce platform Lazada in 2016. And now, <a href="https://www.straitstimes.com/business/companies-markets/alibaba-in-talks-to-invest-us3-billion-in-grab">another investment of $4 billion</a> is reportedly in the works for Grab — a ride-hailing, food delivery and payment solution platform backed by Uber Technologies.<br /><br />The e-commerce giant’s Singapore ambitions are only highlighted by its <a href="https://www.channelnewsasia.com/news/business/alibaba-50-percent-stake-axa-tower-perennial-12709398">$1.2 billion deal</a> in May to buy out half of the 50-storey AXA Tower.<br /><br /><strong>Tencent looks to get back on top<br /></strong>The compounded effect of India taking Tencent’s apps off its shelves — including the battle royale game PlayerUnknown’s Battlegrounds (PUBG) Mobile in India — and US President Trump’s executive order to prohibit WeChat led to the company <a href="https://www.businessinsider.in/business/news/pubg-ban-india-makes-chinese-company-tencent-loses-34-billion-in-2-days/articleshow/77924912.cms">losing $34 billion within two days.</a> <br /><br />Even South Korea’s PUBG Corporation announced that it would be <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-will-no-longer-be-developed-by-tencent-in-india/articleshow/77993013.cms">ending its publishing partnership with Tencent</a>.<br /><br /><div type="Article" hostid="261" msid="77993013" title="PUBG Mobile will no longer be developed by Tencent in India but experts say that may not be enough" mstype="2" mssubtype="0"></div><br />Lawyers <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-will-no-longer-be-developed-by-tencent-in-india/articleshow/77993013.cms">point out</a> that even though India’s ban on mobile apps exclusively targets Chinese companies, the order itself doesn’t say anything about China. It instead points to issues in data sharing that violate the rights of Indian users and the sovereignty of the country. <br /><br />Just disengagement from Tencent may not be of any particular benefit to PUBG Mobile, and Tencent shifting its base to Singapore may not solve the problem of Section 69 (A) of the Information Technology (IT) Act.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/policy/society/news/for-facebook-and-twitter-the-changes-to-indias-it-amendment-act-is-what-the-doctor-ordered-or-not/articleshow/78121530.cms">For Facebook and Twitter, the changes to India's IT (Amendment) Act is just what the doctor ordered — or not</a><br /><br /><a href="https://www.businessinsider.in/defense/news/the-border-issue-with-china-remains-unresolved-indias-defence-minister-rajnath-singh-tells-parliament/articleshow/78124549.cms">The border issue with China remains unresolved, India's Defence Minister Rajnath Singh tells Parliament</a><br /><br /></strong><a href="https://www.businessinsider.in/business/ecommerce/news/snapdeal-says-it-has-just-tested-deliveries-using-robots-and-it-was-successful/articleshow/78120511.cms"><strong>Snapdeal says it has just tested deliveries using robots and it was successful</strong></a><br />

Tencent joins Alibaba and Bytedance in making Singapore its new headquarters after India ban and tensions in the US

<br /><ul><li><strong><keyword id="163405" type="COMPANY" weightage="20" keywordseo="Alibaba-Group">Alibaba Group</keyword> on Tuesday (June 9) announced that its Cloud business is set to hire 5,000 people globally, this financial year. <br /></strong></li><li><strong>The cloud computing major plans to recruit employees across verticals including database, networking, servers and artificial intelligence.<br /></strong></li><li><strong>The development comes in the backdrop of its recent announcement to invest $28 billion over the next three years to build advanced data centers.<br /></strong></li><li><strong>As of now, <keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword> has data centers across 63 zones — including two in India. </strong></li></ul>Alibaba Group on Tuesday (June 9) announced that its Cloud business is set to hire 5,000 people this financial year, from across the world. The cloud computing major plans to recruit employees across verticals including database, networking, servers and artificial intelligence.<br /><br />“In light of the fast-growing demand for digital shift from global clients in all sectors, we are continuing with our commitment to offering world-class cloud services. To move forward in full speed, we are not only building trusted cloud technologies and services, but also investing in worldwide IT talents who are pioneering the development of cutting-edge cloud and data intelligence technologies,” Jeff Zhang, President of Alibaba Cloud Intelligence said. <br /><br />In 2017, the Chinese e-commerce giant launched Alibaba DAMO Academy. The academy aims at hiring talent globally for technology research in areas like machine learning, artificial intelligence, natural language processing, Internet of Things (IoT) and vision computing. Its technological achievements over the past years include speech AI, image search, and CT image analytics. <br /><br />The development comes in the backdrop of its recent announcement to invest $28 billion over the next three years to build advanced data centers. As of now, Alibaba Cloud has data centers across 63 zones — including two in India. The company opened its first data center in Mumbai in 2018.<br /><br />“The digital transformation journey for businesses in China, which was previously expected to take three to five years, is now likely to be accelerated to be completed within one year,” Zhang added. Alibaba’ Cloud unit or the data intelligence vertical has over 70 security and compliance accreditations to its name. <br /><br />Meanwhile, the <keyword id="691847" type="PERSON" weightage="20" keywordseo="Google-Cloud">Google Cloud</keyword> platform has also been hiring for senior management roles in India. On June 8, the cloud computing giant onboarded industry veteran Anil Valluri as Senior Director for the cloud business operations in India. "Cloud is the next big transition in the technology industry,” Valluri said. <br /><br /><strong>See also:</strong><br /><a href="https://www.businessinsider.in/tech/enterprise/news/ibm-cto-forecasts-that-more-ai-use-cases-are-going-to-come-out-in-grocery-shops-fashion-industry-banking-and-telecom/articleshow/76275159.cms">IBM India CTO pitches grocery shopping by recipes, virtual mirrors and green stores — here's what AI can provide in the post-COVID world</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/anand-mahindras-sanjivani-solution-for-cos-think-like-a-startup-and-do-a-marie-kondo-style-clean-up-of-portfolio/articleshow/76275190.cms">Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio</a><br />

Alibaba Group is set to hire 5,000 technology professionals globally for its cloud business

New Delhi, In fresh trouble for WhatsApp, which is facing backlash over its upcoming user data policy in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, New Delhi-based think-tank Cyberpeace Foundation said on Monday that China-based hackers are targeting <keyword id="1540772" type="PERSON" weightage="20" keywordseo="WhatsApp-users">WhatsApp users</keyword> in the country with the promise of 'part-time' jobs.<br /><br />Such proliferating messages on WhatsApp, which come with <keyword id="10578762" type="UNKNOWN" weightage="20" keywordseo="attached-links">attached links</keyword>, claim that one can earn Rs 200 to Rs 3,000 in a day in 10 to 30 minutes.<br /><br />"There are multiple links that redirect to a <keyword id="10578760" type="UNKNOWN" weightage="20" keywordseo="common-url">common URL</keyword> and each link uses <keyword id="4200295" type="PERSON" weightage="20" keywordseo="different-numbers">different numbers</keyword> to send a message," the foundation said in a statement.<br /><br />"It can be observed that the same outgoing link is used for all the links with variation in the numbers. The parameter in the links indicates that they can be redirected to WhatsApp in all regions and in languages other than English," said the report.<br /><br />The CyberPeace Foundation along with experts from Autobot Infosec Private Ltd has launched an independent investigation into the matter.<br /><br />"In all the links, the same redirection and outgoing sources were generated. However, in one link, a different URL was found and one new IP address that belongs to one of <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword>'s hosting company <keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword>," the report said.<br /><br />When the URL is manipulated, an error code is displayed in Chinese language, the report said, adding that the domain names found during the investigation seem to have been registered in China.<br /><br />"The IP address of the link is 47.75.111.165 and it can be traced to Alibaba Cloud, the city Hong Kong and the country China," it further claimed.<br /><br />The news comes at a time when WhatsApp is asking users to either give their consent to sharing data with Facebook or lose their accounts after February 8, triggering a heated debate globally, including in India.<br /><br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/tech/gadgets/news/oneplus-band-with-24-hour-heart-rate-monitoring-14-days-battery-life-launched-in-india/articleshow/80209025.cms">OnePlus Band with 24-hour heart rate monitoring, 14 days battery life launched in India</a><br /><a href="https://www.businessinsider.in/business/ecommerce/news/radhakishan-damani-dmart-ready-takes-cautious-steps-against-jiomart-and-amazon/articleshow/80209971.cms">Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce</a><br /></strong><a href="https://www.businessinsider.in/business/startups/news/oyo-cashes-in-another-cheque-from-swedish-billionaire-martin-hp-sderstrm-for-its-vacation-homes-business-in-europe/articleshow/80214916.cms"><strong>OYO cashes in another cheque from Swedish billionaire Martin HP Söderström for its vacation homes business in Europe</strong></a><br />

Chinese hackers targeting Indian WhatsApp users with promise of 'part-time' jobs

<ul><li>The shares bought by ANT Group, an associate company of Alibaba, just before the IPO had lost nearly ₹16,012 crore (over $2 billion) of their value in the first two months of <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s listing.</li><li>The company has bought shares worth ₹33,600 crore in Paytm at an average price of ₹1,833, which is the highest among all institutional investors.</li><li>If ANT Group had sold all its shareholdings in Paytm during the IPO, it would have got ₹39,400 crore ($5.2 billion) in return.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>All the retail investors who lost money on Paytm’s public issue, it may bring you some solace that even the company’s largest and one of the oldest backers from the Alibaba Group’s wealth fell on the fear of missing out despite being an investor in the digital payments giant for the last six years. <br /><br />The shares bought by ANT Group, an associate company of Alibaba, before the initial public offering (IPO) — at an average cost of ₹1,883 apiece ⁠— lost nearly ₹16,012 crore (over $2 billion) ⁠of their value in the first two months of Paytm’s listing. So far, there has been no public report of ANT selling <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> since the listing. <br /><br />                                                    <div type="Video" msid="88035227" hostid="261" title="When will Paytm start making money" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=88035227"></div><br />Now, Macquarie has said <a href="https://www.businessinsider.in/business/corporates/news/paytms-stock-down-over-40-since-listing-heres-why-analysts-expect-it-to-sink-deeper/articleshow/88810339.cms">that the stock could fall to ₹900</a> in the next one year, down another 24% from Monday’s closing price. <br /><br />If ANT Group had sold all its shareholdings in Paytm during the IPO, it would have got ₹39,373 crore ($5.3 billion), leading to a profit of ₹5,800 crore ($782 million). <br /><br />Alibaba’s affiliate had sold nearly 3% of its shareholdings for ₹4,704 crore (nearly $630 million), but it still owns 24% shareholdings in Paytm that are now worth ₹ 18,657 crore by Monday market closing (January 10).<br /><br />The value of the residual stake in Paytm could have been worth ₹34,669 crore if the digital payments giant had maintained its IPO issue price of ₹2,150.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pre-IPO Average Price<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Investment<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of residual shareholding* <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of shares sold in IPO**<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gross Loss, at ₹1,157 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ANT Group<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,833.30<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹33,600 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,657 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,704 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16,012 crore<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: Paytm’s filings, Business Insider calculations</em><br /><em>*The value of remaining shareholdings has been derived based on the closing price of Paytm’s share</em><em>s </em><em>(₹1,157) on January 10</em><em>.</em><br /><em>**Shares in the IPO were sold at ₹2,150. </em><br /><br />Business Insider had earlier reached out to Paytm and ANT Group to seek its comments for this article.<br /><br />Paytm has lost more than $10 billion in market cap in the last two months of trading. The company was last valued at $10 billion (₹76,094 crore) on January 10 versus $19.9 billion in its IPO.<br /><br />"Paytm’s payment business accounts for about 70% of revenue, which will be under threat if there are any regulatory changes . Also, its entry into insurance sectors has been rejected by regulators. The stock is trading at about 17 time FY23 sales which seems overvalued considering higher expenses and risk of attrition of senior executives," Manoj Dalmia, Founder and Director at Proficient Equities Private Limited, said.<br /><br />                          <div type="image" title="Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm" msid="88824685" hostid="261"></div><br />Alibaba, on the other hand, has reported a net profit of ₹3,727 crore ($500 million), since its average cost of acquisition of equity shares was ₹583 only. The company still has shareholding worth ₹4,701 crore ($635 million) in the company, calculated based on the January 10 closing price of ₹1,157. This could have been worth ₹8,736 crore ($1.1 billion), at the IPO issue price. But ANT didn’t sell all its shares in the IPO.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholder<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Existing shareholding<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of existing shareholding now, at ₹1,157 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of existing shareholding, at IPO issue price of ₹2,150 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ANT Group<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.7%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,657 crore ($2.5 billion)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Over 34,669 crore ($4.6 billion)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,701crore ($635 billion)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,736 crore ($1.1 billion)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Japanese investor SoftBank sold majority of its shareholdings from SVF Panther (Cayman) Limited in the IPO, giving it an exit of ₹1,689 crore ($226 million). <br /><br />However it still owns about 17% stake in the company through SoftBank Vision Fund India. They would have made ₹24,351 crore if they completely exited the company during the IPO, but the value has now dropped to ₹13,104 crore. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholders <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholding pre-IPO<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholding post-IPO<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ANT Group<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.9%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.7%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SoftBank<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.4%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.8%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />The average price paid by SVF India Holdings (Cayman) Limited to acquire a share of Paytm has not been disclosed as it was not selling any shares during the IPO.<br /><br />                          <div type="image" title="Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm" msid="88824756" hostid="261"></div><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/corporates/news/paytms-stock-down-over-40-since-listing-heres-why-analysts-expect-it-to-sink-deeper/articleshow/88810339.cms">Paytm’s stock down over 40% since listing; here’s why analysts expect it to sink deeper</a><br /><br /><a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-the-government-is-now-the-biggest-shareholder-in-vodafone-idea/articleshow/88824061.cms">The government is now the biggest shareholder in Vodafone Idea</a><br /><br /><a href="https://www.businessinsider.in/investment/news/bitcoin-ethereum-and-others-have-lost-nearly-40-percent-since-their-record-highs-but-investors-are-still-better-off-than-they-were-a-year-ago/articleshow/88823379.cms">Bitcoin, Ethereum, and others are half-way down from their record highs, but investors are still better off than they were a year ago</a>

Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm

Small and medium-sized enterprises (SMEs) in India are set to benefit from a $30 million global "anti-COVID" programme that <keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword>, the data intelligence backbone of Chinese e-commerce giant <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> Group, launched on Thursday.<br /><br />The "<keyword id="9102531" type="UNKNOWN" weightage="20" keywordseo="Global-SME-Enablement-Programme">Global SME Enablement Programme</keyword>" will provide cloud technology relief to both new and existing SME customers of the company around the world and equip them with the solutions needed to maintain business continuity amid the COVID-19 pandemic.<br /><br />The company is offering a $300 coupon package for all new SME customers, and a $500 coupon for its paying customers.<br /><br />The new SME customers of the company worldwide can apply for the relief between now and June 22.<br /><br />The portfolio consists of a support package with 12 key products, including Elastic Compute Service (ECS), which powers cloud applications with low latency, and Object Storage Service (OSS), an encrypted service for data storage and backup in the cloud, as well as Alibaba Cloud Academy Courses.<br /><br />Existing customers can also apply for product coupons between now and June 22 to help them expand or upgrade their cloud applications, Alibaba Cloud said.<br /><br />In addition, Alibaba Cloud said it will reach out to SME associations to help meet their members' technology needs as they fight the pandemic.<br /><br />"India has a vision to increase the contribution from its MSME's (micro, small and medium enterprises) to its National GDP to 50 per cent and a large part of that growth will be possible in this day and age through empowering companies with technology," Alex Li, General Manager, Alibaba Cloud South Asia, said in a statement.<br /><br />"The Alibaba Cloud Global SME Enablement Program aims to provide much needed and timely relief to SMEs so they can rapidly respond to the current crisis while speeding up their digital transformation and emerging from the current pandemic stronger and more resilient," Li added.<br /><br />Alibaba Cloud announced the Global SME Enablement Programme during its Digital Cloud Day.<br /><br />The interactive one-day online conference introduced Alibaba Cloud's latest technologies and customer case studies and in particular how Alibaba Cloud is applying cloud computing, data analytic, and artificial intelligence capabilities to help businesses and the wider communities better cope with COVID-19.<br /><br />Alibaba Cloud this week announced to invest additional approximately $28 billion (RMB 200 billion) in the next three years on its cloud infrastructure, focusing on technologies including operating system, servers, chips and network.<br /><br /><strong><b>See also:</b><br /><br /> <b><a href="https://www.businessinsider.in/tech/enterprise/news/you-cannot-afford-to-change-things-how-alkira-a-multi-cloud-management-startup-just-raised-21-5-million-from-sequoia-and-kleiner-perkins-during-an-economic-crunch-/articleshow/75149453.cms">'You cannot afford to change things.' How Alkira, a multi-cloud management startup, just raised $21.5 million from Sequoia and Kleiner Perkins during an economic crunch.</a></b><br /><br /> </strong><b><a href="https://www.businessinsider.in/tech/enterprise/news/7-5-billion-mongodb-explains-how-its-partnership-with-google-cloud-is-paying-off-with-lots-of-new-customers-were-benefiting-from-that-macro-level-push-google-has-in-the-market/articleshow/75055420.cms"><strong>$7.5 billion MongoDB explains how its partnership with Google Cloud is paying off with lots of new customers: 'We're benefiting from that macro-level push Google has in the market'</strong></a></b><br />

Alibaba Cloud's $30 million programme to benefit small and medium-sized enterprises in India

<ul><li>According to reports, <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> is pausing on its India <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> investments. </li><li>It has made big bets on India like <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> and Paytm Mall, Zomato, BigBasket, Snapdeal and logistics firm Xpressbees. </li><li>Alibaba was also reported to have been looking at a deal with Reliance Retail.</li></ul>E-commerce giant Alibaba has put a full stop to its investments in India, according to <a href="https://www.moneycontrol.com/news/business/alibaba-hits-pause-on-fresh-india-investments-4370951.html">reports</a>.<br /><br />In a response to Moneycontrol, Alibaba said that it remains committed to the Indian market. <br /><br />Alibaba was also reported to have been eyeing deal with Reliance Retail. However, these deal talks seem to have fallen through. <br /><br />Alibaba has placed big bets in the Indian market with top startups like Paytm and Paytm Mall, Zomato, BigBasket, Snapdeal and logistics firm Xpressbees. However, Alibaba hasn’t exited from any of their investments. <br /><br />In May, Alibaba was<a href="https://www.livemint.com/companies/news/alibaba-looks-to-focus-on-small-deals-in-india-1557082189868.html"> rumoured</a> to be re-evaluating its India strategy to turn its focus to smaller ticket deals in India. This is after having made large investments with great emphasis on big and successful companies. <br /><br />This move comes after Alibaba’s much talked about Hong Kong IPO was delayed, owing to the political unrest. Alibaba’s first IPO in 2014 in the US created history in the market as it raised $25 billion. But investors will have to wait for yet another possibly stellar debut atAsian financial hub – Hong Kong.<br />

Alibaba won't be making any fresh investments in India: Reports

<br /><ul><li><keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword> is looking to expand its market in India and one-up its competitors.</li><li>It’s looking to do it in the most Chinese way possible, keeping its product flexible and cheap.</li><li>Although Alibaba Cloud in the process of wooing a few digital companies away from Amazon Web Services (AWS) — it’s now looking to get bigger companies on board.</li></ul>Alibaba Cloud is looking to expand its market in India. In a lot of ways, the company’s <keyword id="140601" type="COMPANY" weightage="20" keywordseo="database">database</keyword> management solutions aren’t all that different — but is already wooing away new-age digital companies like Zomato, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> from Amazon Web Services (AWS). Now, it is now looking to get bigger companies on board.<br /><br />The selling point for Alibaba Vice President Feifei Li is not very different from any other Chinese business ⁠— flexible and cheap. <br /><br />"Both (AWS Aurora and Polar DB) use shared storage architecture, which can serve up to 100 TB (terabytes) of data — but if you want to scale beyond that, like during a massive e-commerce operation, they need scalability beyond what shared storage can offer," Li told Business Insider. And, according to him, it costs a tenth of the AWS’ cloud services.<br /><br />But AWS doesn't agree. "It is inaccurate to say that PolarDB is available at a tenth of the cost as Amazon Aurora. If you consider a top of the line instance size, Amazon Aurora is still cheaper than PolarDB with more VCPUs (6 more VCPUs) on offer, and a secure virtualization platform (R5 instances powered by the AWS Nitro System)," the company told Business Insider.<br /><br />It also pointed out that even though Zomato, Paytm and BigBasket are on Alibaba Cloud, they're also using AWS simultaneously for other services.<br /><br />Li is in India to sell Polar DB, Alibaba Cloud’s relational database — a database in which a lot of different data sets can be compared and re-assembled without having to reorganise storage.<br /><br /><strong>Amazon’s customers, Alibaba-backed companies<br /></strong><br />Currently, most of the company’s clients are small and medium enterprises (SMEs) — but most of the revenue comes from large companies. "We already have quite a few large businesses like <keyword id="96306" type="CITY" weightage="20" keywordseo="Reliance-Entertainment">Reliance Entertainment</keyword> and helped them launch across 150 countries," said Alex Li, General Manager of Alibaba Cloud South Asia.<br /><br />So, Alibaba Cloud’s real test will be when it tries to woo its next set of clients. Out of the four big names highlighted by Li, Alibaba Group has stakes in <a href="https://www.businessinsider.in/paytm-mall-completes-450-million-funding-round-from-softbank-and-alibaba/articleshow/64569914.cms">Paytm</a> and <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">BigBasket</a>. <br /><br /><strong>As Alibaba Cloud tries to woo Amazon’s customers, these are its major promises:<br /></strong><br /><ol><li><strong>It’s flexible. </strong>PolarDB addressed nearly 87 million requests per second during peak traffic helping Alibaba’s <a href="https://www.businessinsider.in/alibaba-just-had-the-biggest-online-shopping-day-of-all-time-nearly-tripling-every-companys-2017-black-friday-and-cyber-monday-sales-combined/articleshow/66580674.cms">11:11 Single Day</a> sale in China, which clocked a <a href="https://www.businessinsider.in/tech/news/alibaba-leaders-deny-sensational-claims-made-in-viral-weibo-post-that-said-the-chinese-e-commerce-giant-misreported-its-singles-day-sales/articleshow/72117515.cms">record-breaking</a> gross of <a href="https://www.businessinsider.in/retail/news/chaotic-photos-show-what-it-looks-like-when-alibaba-sells-38-billion-worth-of-merchandise-on-chinas-biggest-shopping-holiday-and-breaks-records/articleshow/72028088.cms">$38.4 billion</a>, according to the company.</li><li><strong>It’s cheap.</strong> Li says the PolarDB is available at a tenth of the cost as AWS Aurora.</li><li><strong>It’s tried and tested. </strong>"Not only do we have cloud database as a service, but we also provide database infrastructure for the entire Alibaba Group. That really helps us strengthen our technology and mature our product before we offer it to our customers," he explained.</li><li><strong>It is fully compatible with MySQL. </strong>This is <a href="https://www.gartner.com/en/documents/3947472/magic-quadrant-for-cloud-infrastructure-as-a-service-wor">an important capability </a>since more businesses are already integrated with one type of database or another. Compatibility ensures that they can easily transfer their data and processes from one platform to the next. </li><li><strong>Security. </strong>"We have some unique strengths, that Microsoft, Google and AWS don’t have. For example, we have a product called AllEncrypted. It combines database kernels with security software like Intel SGX. It allows the customer to encrypt their data using a private, secret key — and they don’t have to share that key with us," said Li.</li><li><strong>Keep tabs on data.</strong> In the near future, blockchain technology will be integrated, which will allow authentication of the data through database logs.</li></ol>Alibaba Cloud is focusing all of its energies on India, and for good reason. Not only are local businesses looking to shift to the cloud rather than set up their own servers, but India’s impending <a href="https://www.businessinsider.in/policy/news/indias-new-data-protection-is-in-the-works-and-companies-will-only-have-to-pay-2-million-for-violations/articleshow/72381112.cms">Personal Data Protection Bill</a> is likely to push for <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">localisation</a> — and Alibaba already has two data centres in the country.<br /><br /><strong>See also:</strong><br /><a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">Data localisation won't help 'local' firms or improve privacy — but it could cost India $43 billion</a><br /><br /><a href="https://www.businessinsider.in/whatsapp-data-may-shift-to-the-cloud-but-may-no-longer-be-as-encrypted/articleshow/65475359.cms">WhatsApp data may shift to the cloud, but may no longer be as encrypted</a><br /><br /><a href="https://www.businessinsider.in/tcs-and-cisco-join-hands-for-a-new-cloud-product/articleshow/70673984.cms">TCS and Cisco experimented a cloud service with a large insurer — and now they are ready to launch</a><br />

Alibaba Cloud is trying to woo Amazon's customers in the most Chinese way possible

<ul><li>In an interview with Business Insider India, Denny Wang, Regional Director, Global B2B Business South Asia, <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>.com spoke about what’s driving their India business. </li><li><keyword id="163406" type="COMPANY" weightage="20" keywordseo="Alibaba-com">Alibaba.com</keyword> has been in India since 2008 and over the years has identified the gems and jewellery sector as one of its focus areas.</li><li>In India, Alibaba has over 6 million users and 15,000 merchants.</li></ul>Alibaba.com has not seen an explosive growth in its B2B business in India, unlike in China. It is exhibiting a slow and steady growth instead. <br /><br />The Chinese giant has six million members on its platform. And, the group’s India vertical has identified gems and jewellery, textiles and apparel, beauty and personal care, home and garden and agriculture as the top five categories of trade business.<br /><br />In fact, gems and jewellery is one of the verticals that Alibaba.com has identified as the most ‘in demand’ segment. “We’ve come to find an increasing demand amongst our buyer base for Indian gems and jewellery from various regions, especially Hong Kong, UAE and the USA,” said Denny Wang, Regional Director, Global B2B Business South Asia, Alibaba.com. <br /><br />The Indian Gems and Jewellery (G&amp;J) sector is one of the largest in the world and is home to over 300,000 gems and jewellery players. “Looking at the huge potential that exists within the country, we’ve identified the gems and jewellery export as a strong growth segment for India and we plan to focus on building a large merchant base on the platform from this cluster,” said Wang. <br /><br />Chinese entrepreneur and billionaire <keyword id="424838" type="PERSON" weightage="20" keywordseo="Jack-Ma">Jack Ma</keyword> who hit a jackpot with Alibaba.com, made a rather silent entry into India in 2008. Ever since, it has brought as many as 15,000 SMEs onto its platform. Globally, Alibaba has 10 million active buyers spread across 190 countries. <br /><br />“Our focus has always been on encouraging entrepreneurship and small businesses in China which has made us a force to reckon with and now we are bringing our expertise with Chinese and global markets to India,” said Wang. <br /><br />Alibaba.com in India is leveraging its channel partner network, which supports them in customer outreach, onboarding and customer service. <br /><br />One of the biggest challenges Indian SMEs face is the training required in onboarding digital growth and Alibaba.com brings its global insights to India there as well. <br /><br />“To train our merchant base, we also organize training programs and workshops across key markets. These programs not only inform our merchant base about the platform’s proposition but also give them insights into the industry, buyer trends and at the same time, enables them to leverage digital economy to take their businesses to global audiences,” said Wang.<br /><br />Recently, one of Alibaba’s competitors – IndiaMart in India went public. Wang believes there is still a big opportunity to capture the Indian market. <br /><br />“India is in a nascent stage in terms of fully adopting to the power of digital commerce and that is exactly what we at Alibaba.com are here to enable the country’s SMEs and MSMEs with,” he said. <br />

Jack Ma's Alibaba.com says Indian gems and jewellery are selling like hot cakes across the world

<br /><ul><li>A new malware has affected 25 million smartphone users globally, most of whom are from India, according to a report by Check Point.<br /></li><li>The primary point of entry for the malware called ‘Agent Smith’ was through Alibaba’s 9apps.com mobile app store. <br /></li><li>But it was only able to latch onto devices that are still running an outdated version of Google’s operating system, Android affecting Jio’s suite of apps, Flipkart, Truecaller, Hotstar and WhatsApp.<br /></li></ul>WhatsApp’s biggest market, India, is vulnerable to a new malware called ‘Agent Smith’ and <a href="https://www.businessinsider.in/jack-ma-told-alibaba-staff-to-have-lots-of-sex-at-a-mass-wedding-for-his-employees/articleshow/69310072.cms">Alibaba</a>’s app store — 9apps.com — could be the reason why. <br /><br />It’s not just <a href="https://www.businessinsider.in/whatsapp-can-sue-you-for-sending-bulk-messages/articleshow/69771841.cms">WhatsApp</a> but other popular apps like <a href="https://www.businessinsider.in/hotstar-vip-subscription-plan-price-features-original-content/articleshow/68532179.cms">Hotstar</a>, <a href="https://www.businessinsider.in/reliance-jios-app-crosses-10-million-downloads/articleshow/54482294.cms">Jio Chat</a>, Jio Play, <a href="https://www.businessinsider.in/amazon-vs-flipkart-house-of-flagships-for-new-smartphones-in-india/articleshow/69408528.cms">Flipkart</a> and Truecaller have been affected by the malware, according to <a href="https://research.checkpoint.com/agent-smith-a-new-species-of-mobile-malware/">Check Point.</a><br /><br />Instead of the original app, you might have a version that is filled with malicious ads which will litter your device.<br /><br />It’s not just 9apps that’s reportedly at fault. <a href="https://www.businessinsider.in/10-Years-After-Matrix-Trilogy-Agent-Smith-Stars-In-GE-Ad/articleshow/21177954.cms">Agent Smith</a> uses vulnerabilities in previous versions of Android to latch onto devices. So, the malware only gets onto your phone if you haven’t updated it to the latest version of Google’s operating system. <br /><br />The Israeli security company also found that while the malware was primarily focused on users in India, it has made its way onto 25 million devices — including Android phones in the US and the UK.<br /><br /><strong>Undercover on your phone</strong><br /><br />Users downloading WhatsApp from 9apps, rather than the Google Play Store, have inadvertently been loading the malware onto their devices. It takes over WhatsApp and other primary apps on your device, to replace them ad-filled versions.<br /><br />Agent Smith makes its way onto your phone just like any other app. It’s usually disguised a photo editing tool or an adult game in the app store which starts to penetrate the system after the app is installed. <br /><br />Disguised as a legitimate Google update tool, Agent Smith then replaces original apps on your phone will malicious versions. And, there aren’t any notifications that will warn you.<br /><br />The apps and the ads themselves aren’t dangerous per se, according to the researchers who made the discovery, but the malware’s true intent might extend beyond showing ads.<br /><br /><div type="ExtQuote" text="Due to its ability to hide it’s icon from the launcher and impersonate any popular existing app on a device, there are endless possibilities for this sort of malware to harm a user’s device." auname="Check Point report"></div>

<br />Check Point also noted that it found indications that the hackers were working their way onto Google’s Play Store with 11 apps containing a ‘dormant’ piece of the software.<br /><br /><strong>A simple remedy <br /></strong><br />If you’re one of the people who has been using 9apps and you’re afraid that Agent Smith might have made its onto your phone, there’s a simple to check to find out. <br /><br />Make your way to your menus Android settings and find the Apps Menu. In the list of apps, look out for names like ‘Google Updater’, ‘Google Installer for U’, ‘Google Powers’ or ‘Google Installer’.<br /><br />In case you have any of those apps on your phone, yes, you have been affected. But the solution is also simple. Simply uninstall the affected app. And, in the future, download apps only from Google’s official Play Store to stay safe.<br /><br /><strong>See also:<br /></strong><a href="https://www.businessinsider.in/the-indian-government-wants-to-build-its-own-whatsapp-for-official-communication/articleshow/69983904.cms">The Indian government wants to build its own WhatsApp for official communication</a><br /><br /><a href="https://www.businessinsider.in/whatsapp-curbed-by-indian-army-to-stop-foreign-intelligence/articleshow/70138133.cms">Indian Army fears that foreign intelligence may be using WhatsApp to profile its officers</a><br /><br /><a href="https://www.businessinsider.in/indias-human-resource-development-ministry-wants-to-link-students-social-media-accounts/articleshow/70138862.cms">The Indian government wants a handle on students' social media profiles —and that has sparked an outrage</a><br />

Malware affecting Jio Apps, WhatsApp, Flipkart and Hotstar ‘primarily targeted’ Indian users through Alibaba’s app store

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> venture is heading for an October launch with an O2O model.</li><li>This model is similar to <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>’s approach in China, which resulted in huge success. </li><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Retail and Alibaba were also in talks for a deal for the former’s latest e-commerce venture.</li></ul>Mukesh Ambani’s much awaited e-commerce venture is all set to go live during the auspicious Diwali festival. According to <a href="https://inc42.com/buzz/reliance-might-launch-ecommerce-venture-around-diwali-with-kirana-stores-onboard/">reports</a>, Reliance will be taking the offline-to-online (O2O) business model to bring kirana shops on board, to deliver groceries online.<br /><br />The O2O venture will bring thousands of kirana shops online. <br /><br />This strategy is strikingly similar to that of Alibaba in China, before it became a global sensation. Interestingly, Reliance Retail and Alibaba were also in talks for a deal, as the Chinese major was expected to invest in Ambani’s e-commerce venture. However, the talks fell through. <br /><br />The O2O model seems to be a tried and tested model for e-commerce players. Paytm Mall which has burnt its hands in the e-commerce world once, made a quick turnaround with the O2O model. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion, and is now aiming for ₹170 billion GMV by 2022.<br /><br />At the recent Reliance AGM, the company had announced an immersive shopping experience using mixed reality (augmented reality and virtual reality combined) for Reliance Fibre subscribers.<br /><br />Ambani is not short of suitors for his next-gen ideas either. It was earlier reported that global e-retail giant Amazon is looking to acquire a 26% stake in Reliance Retail. However, Amazon went ahead and struck a similar deal with Kishore Biyani’s Biyani’s Future Coupons. This company is the promoter of Future Retail, and Amazon will indirectly have ownership of the vast group of offline retail chains including Big Bazaar. <br /><br />Reliance Retail has 10,644 stores across 6,700 cities, with 100 million registered loyalty customers, and saw 150 million footfalls in their stores in the previous year. <br /><br />Reliance Retail posted robust pre-tax profits in the first quarter of 2019-20 as its revenues grew by around 70% to ₹2,049 crore. In the same quarter, it was at ₹1,206 crore last year. <br />

Reliance's e-commerce venture is looking to replicate Alibaba's success in India

<ul><li><strong>Pushpendra Parmar, who was employed with the Alibaba-backed UCWeb  in Gurugram, Haryana between August 2016 and November 2017, has claimed $268,000 in damages. </strong></li><li><strong>Jack Ma and about a dozen individuals or company units have been asked to appear in Gurugram civil court or through a lawyer on July 29.</strong></li><li><strong>In 2014, the CEO of Samsung Electronics was been ordered to appear at a Ghaziabad court in a $1.4-million cheating case.</strong></li></ul> An Indian court has summoned Alibaba's founder Jack Ma after a former employee in India complained that he was wrongfully fired, according to a Reuters report. <br /><br />Pushpendra Parmar, who was employed with the Alibaba-backed UCWeb  in Gurugram, Haryana between August 2016 and November 2017, <a href="https://www.linkedin.com/in/nilanjan-sen-815b116/" data-type="tilCustomLink" target="_blank">according to his LinkedIn profile</a>. He has reportedly alleged that his objection to UC News' censoring of content that was critical of China led to his ouster from the company. Parmar has claimed $268,000 in damages. <br /><br />Jack Ma and about a dozen individuals or company units have been asked to appear in Gurugram civil court or through a lawyer on July 29, <a href="https://in.reuters.com/article/alibaba-india/exclusive-alibaba-jack-ma-summoned-by-indian-court-on-former-employees-complaint-idINKCN24R055" data-type="tilCustomLink" target="_blank">said Reuters</a>, adding that UC India did not offer a comment on the ongoing litigation. <br /><br />This is not the first time that the global CEO of a multinational firm has been summoned by an Indian court.  In 2014, the CEO of Samsung Electronics was been ordered to appear at a Ghaziabad court in a $1.4-million cheating case.<br /><br />The summons issued to Jack Ma, the world's 17th richest man with a <a href="https://www.forbes.com/profile/jack-ma/#13d9fbcc1ee4" data-type="tilCustomLink" target="_blank">net worth of over $47 billion</a>, have come amidst a diplomatic standoff between India and China. The terms of disengagement at the Ladakh border between India and China are still being negotiated. UC Browser was one of the 89 apps banned by the Indian government last month. <br /><br />SEE ALSO:<br /><span class="c-message_attachment__title"><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/the-fault-in-our-stars-indias-bid-at-privatizing-space/articleshow/77182064.cms">OPINION| The fault in our stars: India’s bid at privatizing space</a></span><br /><span class="c-message_attachment__title"><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/a-capgemini-executive-explains-how-car-makers-can-get-their-online-strategy-right/articleshow/77181976.cms">A Capgemini executive explains how car makers can get their online strategy right</a></span><br /><span class="c-message_attachment__title"><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/an-fmcg-analyst-shares-a-picture-of-whats-selling-in-rural-india-and-whats-not/articleshow/77180798.cms">An FMCG analyst shares a picture of what's selling in rural India and what's not</a></span><br /><br />

You Searched For "Alibaba India" and got 13 results

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