Chinese e-commerce company, Alibaba is slowly yet progressively gaining a grip in India. Last year, it had opened its first office in Mumbai. Now it is further deepening its push into India and has expanded its presence to Bengaluru. The Chinese firm has started working out of an office space in India's Silicon Valley, Bengaluru.
Alibaba has signed a deal with CoWrks that is owned by RMZ, which is one of the largest commercial real estate developers in the country. RMZ Infinity is a 400-seat flexible office space on Old Madras Road in Bengaluru. According to the deal, the Chinese e-commerce giant has rented 30 seats in a flexible office in Bengaluru. The company’s technology team works from their Mumbai office and they have teams including admin, HR, and operations working out of this office. Alibaba is said to be paying ₹20,000 per desk per month. It is the second office for the company in the country after Mumbai.
Sidharth Menda, CEO of CoWrks, said “A lot of corporate have been rethinking their real estate strategy to now include working out of CoWrks. This is due to the opportunity to work alongside a highly engaged and entrepreneurial community, which directly improves productivity. Employees prefer to hang out in the office till much later with like-minded people."
Alibaba is steadily expanding its presence in the country as it is trying to take on existing companies like Amazon and home-based Flipkart. The company has already picked up an office space at Platina in the Bandra-Kurla Complex (BKC) in Mumbai, owned by Wadhwa Group.
Alibaba is looking at more investment opportunities outside China. It has already been doing massive investments. The Chinese firm owns about a 40 percent stake in Paytm and it has lately invested $200 million in Paytm's e-commerce unit.
"India is an important emerging market with great potential and we are absolutely committed to developing this market for the long term” an Alibaba spokesperson said. We can soon expect Alibaba to begin operations.
April 05, 2017