PCV believes this is worth watching because of the two heavyweights involved and their distinct business plans.
April 20, 2017
China’s cash-rich tech giant Alibaba Group Holding is racing to expand beyond its home market, heralding possible battles with Amazon.com Inc for global e-commerce and cloud computing market share.
One of Alibaba’s latest steps toward further global presence came with the announcement on Wednesday of a merger between its financial affiliate Ant Financial with helloPay Group, a payment platform on Southeast Asian e-commerce site Lazada.
Alibaba is betting on Southeast Asia’s e-commerce, which is expected to be worth $88 billion to $122 billion by 2025, according to a report co-issued by Singapore investment firm Temasek.