Chinese tech giants along with dozens of hyper-funded upstarts have designs on the world. They are quietly taking over the global fintech market at a scale that’s unheard of before.
Paytm Mall’s COO Amit Sinha, who wants to bring the offline into the online, is opening a three-way battle in Indian ecommerce against Amazon and Flipkart.
Walmart has been talking to e-grocers like Grofers, BigBasket, and Satvacart, adding a third dimension to the ecommerce rivalry between Alibaba and Amazon.
Chinese online giant Alibaba’s talks with Flipkart for a stake in the Indian ecommerce company have “gone cold” after Walmart, the world’s largest retailer, seems to have breasted ahead in talks to acquire a strategic stake in the Bengaluru-headquartered company.
Alibaba’s iron triangle is a combination of e-commerce, logistics and finance. It all hinges on the massive amounts of commerce data that Alibaba generates.
Alibaba will eventually acquire Flipkart, merge it with Paytm, and fight Amazon in India–the world’s most exciting e-commerce battlefield that doesn’t offer any hopes of profitability soon.