20 January 2017, India:
UCWeb, a part of Alibaba Mobile Business Group, plans to invest Rs 200 crore over the next two years in India and Indonesia as per Bloomberg Quint report.
“Out of the planned 2 billion rupees spend, more than 60% will go towards India while rest is allocated to Indonesia,” Alibaba Mobile Business Group general manager— Overseas, Kenny Ye said.
Jack Huang, President of Overseas Business, Alibaba Mobile Business Group said, “As India enters the age of increased content consumption through its mobile devices, there is a huge potential for the growth of user-generated content in India similar to what has happened in China. There are more than 600 million mobile users and 20 million online content creators in China whereas India currently has 371 million mobile users with miniscule contribution from self-publishing outlining a huge demand-supply gap.
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He added, “India is the most critical overseas market for UCWeb and this investment will help bring in the global mobile internet to an era of ‘GUF’ (Google, UCWeb and Facebook).”
The company is trying to close this gap by investing in content distribution platform in India. UC Browser is rated No.1 mobile browser in India (according to StatCounter) having integrated news feeds with UC News. (Image- pymnts.com)
