India's E-commerce Sector goes International
Amazon, Flipkart and Paytm get ready for an international battle in India's e-commerce sector. Paytm Ecommerce, which operates Paytm Mall, the online marketplace which emerged from Paytm owner One 97 Communications, has appointed Ravi Adusumalli of SAIF Partners and Alibaba Group's senior director of finance Jason Pak Tung Yip; secretary and general counsel at Alibaba Group Holding Timothy A Steinert; former director of Alibaba.com Europe and present executive director at Alibaba Entrepreneurs Hong Kong Mei Ki Cindy Chow Lok and CEO of Alibaba's payments subsidiary Ant Financials Jing Xiandong on its board of directors. They are joining Paytm founder, Vijay Shekhar Sharma and vice-president Amit Sinha on the board. The platform has just raised $177 million from Alibaba and also has Ant Financial as an investor.