China's Baidu says in talks to invest in Indian e-commerce startups
13.01.2016 512 views
Baidu Inc., a Chinese internet services provider, is planning to invest in Indian ecommerce startups including Zomato, BookMyShow and BigBasket, a spokesman for China\'s top online search provider said, thestar.com reports"The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future," the spokesman told Reuters, the source cites. Baidu declined to comment on possible investment amounts or time frames.
India's technology startup market is booming as more and more people shop online, in a country where about 20% of a population of 1.3 billion are connected to the internet. The ecommerce market could grow in terms of the value of goods sold to USD 220 billion by 2025 from USD 11bil in 2015, Bank of America Merrill Lynch estimated.
That growth potential has attracted investment from global technology companies such as China's Alibaba Group Holding Ltd and Japan's SoftBank Group Corp. Zomato is India's leading restaurant search provider, while BookMyShow is the country's online seller of movies and events tickets.
Source: The Paypers
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