Although the time frame and exact amount to be invested still lack clarity in disclosure, the company did show a keen interest and appreciation for the Indian market.
“The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future,” the spokesman told Reuters by email.
In a country where about 20% of a 1.3 billion population are connected to the Internet, the e-commerce space has witnessed a growth boom in the past few years. The sector owes this growth to the massive online presence of sellers and customers.
This is not the first time that India’s growth potential has lured in international business magnates. The space has received funding from global mullahs like China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp.