Alibaba is a well-known name in the business world. It is a Chinese company founded by Jack Ma and Peng Lei in 1999 in the city of Hangzhou in Zhejiang, China. Alibaba is a US $500+ Billion company with interests in the fields of e-commerce, money transfers, internet and technology. They made a splash when their IPO saw one of the biggest openings in the world. They have consistently surpassed the three biggest retailers in the US, combined, in terms of revenue.
Alibaba invested in the Indian company One97 which is the parent company of Paytm buying a 25% stake through one of its spin-off companies, Ant Financial Services, in 2017. Other than the Paytm investment, Alibaba has also invested $300 million in Big Basket. Big Basket is the biggest online grocery delivery platform in India with 73% market share. Other than these two, Alibaba has invested in almost a dozen other companies in India including Zomato, Snapdeal and XpressBees.
Alibaba Cloud is a Alibaba company that was launched in September 2009. It offers services such as data storage, content delivery networks (CDN), big-data processing, relational databases, and Anti-DDoS protection under Alibaba Cloud. The company ended the first quarter of FY ’18-’19 with revenues of US $710 million, riding on almost 1 million paying customers worldwide. The company is credited with being the first Chinese company to be awarded the Information Security Management System certification – ISO 27001:2005. Alibaba Cloud operates 18 data centers globally including in North America, Europe, the Middle East and Japan, outside of China.
Paytm launched Paytm AI Cloud in the month of August 2018. The cloud-computing platform that leverages the power of artificial intelligence is targeted at the enterprises that want to offer online payments for their products and services in India. Alibaba Cloud launched its data center in India in 2017, though it has business partnerships with other Indian companies such as Tata Communications and Reliance’s Global Cloud Xchange.