Alibaba Eyes on Indian Market
The e-commerce giant Alibaba Group Holding Ltd has acquired online ticketing platform Damai.cn, to makes the further push into entertainment by the firm as it expands its business beyond its core online retail business. This is one the biggest strategy implemented by Alibaba. This is very happening part to join the "Alibaba family"- said Damai.
Damai.cn could be proved a very powerful platform for our distribution media content as well as expand business, our user reach and engagement," Alibaba said. It could add some synergy with its own entertainment units Alibaba Music, Alibaba Pictures and Youku.
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Now, the e-commerce giant is looking to acquire Indian online movie tickets sites for its retail entertainment business. After investing in Paytm, Alibaba major looks to expand its play in what it terms as a key market.
“Within the group-level, there is already a momentum like Paytm investment which we have done. We are also going to have some investment in online movie tickets booking sites,” said-the Alibaba President He Xiaopeng.
The president also added the potential acquisition targeted sites could be Book My Show. They are basically focusing India because of key market which is growing day by day in terms of mobile phone users and internet users too.
The Chinese market new strategy is, creating to explore investment opportunities in India and grab them. “We are forming a strategic group to look at investment strategy in India and take it as a long-term goal for considering more investments,” Xiaopeng added.
They have already invested more than Rupees 200 crore for developing the content ecosystem in Indonesia and India. UC Web will soon enter online ticket bookings.
“They are looking for commercialisation, content generation, and organisation. In future, they will focus on content creators and help them make better content with its commercialisation. This Could be their key competitive strength,”
India has more than 80 million monthly active users over on UC News. the market has the potential to propel UC News to the No. 1 position in content generation and service platforms within this year.