With some major constraints in the domestic sector, Alibaba is planning to extend its reach to international markets. The next destination in its list happens to be India, and this retail brand has some serious and productive business plans ahead.
Founded in the year 1999 by Jack Ma and 17 entrepreneurs, Alibaba is one of the highly revered names in the retail business domain. The brand rules the Chinese retail market with its flagship marketplace known as Alibaba.com. As the largest inventory of retail businesses, Alibaba can connect numerous businesses with their potential buyers.
With the emergence of its supporting websites named as Tmail and Taobao, Alibaba pretty much dictates the ecommerce arena too. In simple words, Alibaba is a combination of eBay, Google, as well as Amazon. Well, not in reality… Its functions, operations, and business policies are somewhat similar to these three companies.
In a nutshell, this magnanimous retail brand unites customers and business through a common platform, quite the like the way Amazon and eBay does. On the other end, it also collects revenues from advertising much like Google.
The online marketplace in India is experiencing a major boom. Being the market giant Alibaba is known to be, this particular aspect has not gone past its attention. Although restrictive foreign investment regulations and policies had played the villainous part till now, Alibaba is all set to enter the Indian market now.
Especially, after online sales value in India reached $5 billion in the last quarter of 2014, the digital marketplace in India turns out to be a great revenue generator for businesses.
During the last week, Snapdeal collected $500 million from foreign investments. According to market resources, these investors had Alibaba as their leader along with Softbank and Foxconn. Therefore, it is quite clear that Alibaba nurtures a huge interest in the Indian ecommerce landscape, and wishes to make quite a few significant investments in future too.
If the predictions or statements of business honchos are anything to go by, then the Alibaba business model and ecosystem will elevate the Indian ecommerce landscape to a completely new height. With Jack Ma meeting the Indian Prime Minister, perhaps it is time for the party to begin!