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Aya Lin · · 1 min readIn brief: Alibaba halts fresh India investments, sources say
- Alibaba is temporarily halting fresh investments in the country as it reviews its India strategy, four people aware of the development said, Livemint reported.
- The company’s four-member investment team in India has been mandated to manage only the existing portfolio, according to the people.
- The ecommerce giant has faced disappointments at some of its biggest bets in India such as Snapdeal and Paytm Mall, which have far lagged behind the fast-growing ecommerce market dominated by Flipkart and Amazon.
- It was reported in May that Alibaba is likely to focus more on smaller early-stage deals in India.
Editing by Charmaine de Lazo
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