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Alibaba Said to Lead $200m Funding for Paytm’s E-Commerce Unit

  • The unit of One97 said to gain a $1.1 billion valuation
  • Deal marks another Alibaba investment in hot e-commerce market
The Paytm website

The Paytm website

China’s Alibaba Group Holding Ltd. will lead a $200 million round of investment in newly established Indian online retailer Paytm E-commerce Pvt, a person familiar with the matter said.

The investment by Alibaba and private equity firm SAIF Partners values the company at $1.1 billion, said the person, who didn’t want to be identified talking about a private deal. It deepens Alibaba’s investment in a burgeoning e-commerce market now dominated by Amazon.com Inc. and Flipkart Online Services Pvt.