1. Alibaba Group’s internet UC browser is India’s No. 1 platform, says CFO Maggie Wu

Alibaba Group’s internet UC browser is India’s No. 1 platform, says CFO Maggie Wu

China-based Alibaba Group’s internet browser - UC browser is the number one platform in India and Indonesia, said the company's CFO, Maggie Wu,

By: | New Delhi | Published: June 9, 2017 5:10 AM
UC browser, UC browser news, UC browser latest news, UC browser india, india's top internet platform, alibaba, UC browser alibaba, Maggie Wu, alibaba ceo Maggie Wu Daniel Zhang, CEO, Alibaba Group said that the company clocked a gross merchandise value (GMV) worth 7 billion in FY2017, and is aiming to clock trillion GMV by FY2020. (Reuters)

China-based Alibaba Group’s internet browser – UC browser is the number one platform in India and Indonesia, said the company’s CFO, Maggie Wu, at the annual Investor Day conference held at the company’s headquarter at Hangzhou in China. Daniel Zhang, CEO, Alibaba Group said that the company clocked a gross merchandise value (GMV) worth $547 billion in FY2017, and is aiming to clock $1 trillion GMV by FY2020. “In FY2017, the total number of annual active consumers, who shopped online on the firm’s different online platform in China stood at 457 million. For other international markets the number of annual active consumer was 83 million. By 2036, we plan to take the number to 2 billion,” added Zhang. Zhang went onto explain that the company’s e-commerce product such as AliExpress – which also caters to Indian consumers has 60 million annual active buyers, while Lazada – a hyper-local shopping portal launched across Southeast Asian market including Singapore, Malaysia, Vietnam, Thailand, etc has 23 million annual active buyers.

The company’s third online product TMall – a business-to-consumers (B2C) marketplace which sells international branded goods has 30 million annual active buyers. It should be noted that in February this year, taking a cue from TMall, in India mobile wallet firm Paytm, launched PaytmMall – its online shopping portal. Alibaba along with its financial investment company is the largest stakeholder with about 40% equity in One97 Communications – the parent of mobile wallet firm Paytm.

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Moreover, the Jack Ma led company owns another 40% share in Paytm’s e-commerce business currently operational as PaytmMall.

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