Let start with who or what is Analystic firm globals?
“At Global Analytics, we use the power of analytics to fundamentally change the way people do business with the underserved. Combining superior analytics, clear strategic thinking, and top-tier talent, we have a proven ability to create innovative, affordable credit products that serve our customers respectfully and responsibly”.
What’s Alibaba:
Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and data-centric cloud computing services.
Chinese e-commerce giant Alibaba has teamed up with Indian mobile and analytics firm Globals to setup a startup incubator in Bengaluru.
It will focus on mobile Internet and mobile commerce.
The agreement comes less than two months after Alibaba acquired 25% stake in Indian mobile commerce firm Paytm for $550 million.
Globals founder Suhas Gopinath told the Times of India that he met Alibaba founder Jack Ma in New Delhi earlier this week, and the two companies agreed on the incubator.
Gopinath said the idea for the incubator came from mobile search engine Quixey’s COO Guru Gowrappan.
The mobile incubator will start functioning by June.
The Chinese company said it would help these ventures “Scale aggressively in India and across the world.” Alibaba and Globals will also provide seed funding to the selected startups.
Alibaba is focusing on mobile commerce in the Indian market as the number of mobile Internet users is growing at an exponential rate.
India’s leading e-commerce company Flipkart has ditched its mobile website to concentrate on mobile apps.
Alibaba shares fell 0.12% to $83.14 in pre-market trading Wednesday.
Credits to Vikas Shukla
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