Connect with us

Latest News

Alibaba Launches First Cloud Data Center In India

Published

on

In an attempt to expand its fast and quickly growing economy, Alibaba launches its first cloud data center in India. According to reports, this China based firm will come online in January 2018 and will be based out of Mumbai.

Beyond offering the basic cloud based services, this new data center is also going to provide large scale computing, storage and big data capabilities. Further, this centre will give Indian customers access to elastic computing, database, storage and content delivery, networking, analytics and big data, containers, middleware, and security.

The new Alibaba data center will have 33 zones, spanning over regions like China, Hong Kong, Singapore, Japan, Australia, the Middle East, Europe and the United States. This move comes in a fight against the likes of AWS, Microsoft, Azure and Google Cloud.

To make the services more streamlined, Alibaba has employed a group of local professionals. Interestingly, this is going in line with Alibaba’s work in helping small and medium sized businesses grow and generate more revenue. In the past, Alibaba has made major investments in three different companies in India. These include Paytm, TicketNew and BigBasket. The totality of these investments come up to about $ 1 billion.

Established in 2009, Alibaba has partnered with Global Cloud Xchange (GCX,) a subsidiary of Reliance Communications and Tata Communications (TCS.) GCX enables direct access to Alibaba Cloud Express via GCX’s CLOUD X Fusion. On the other hand, Tata Communications provides direct access to Alibaba Cloud Express Connect through its  IZOTM Private Connect service.

Indian enterprises are innovative and operating in growth sectors, and we look forward to empowering them through our cloud computing and data technologies. As we build out the Alibaba Cloud network globally, India is another important piece that is now firmly in place,” Simon Hu, Senior Vice President of Alibaba Group and president of Alibaba Cloud, said in a statement.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Zepto Delays IPO to Focus on Profitability and Indian Ownership

Published

on

Zepto - StartupStories

Overview

Zepto, a leading quick commerce startup, has postponed its planned IPO to early 2026, shifting its focus to achieving profitability and increasing Indian shareholding before going public.

Key Reasons for Delay

  • Profitability Focus: Zepto aims to reach EBITDA break-even before listing, unlike many tech firms that went public while still loss-making.
  • Market Uncertainty: Ongoing global and domestic market volatility influenced the decision to wait for more stable conditions.
  • Peer Comparison: The company wants to present a stronger profit profile, learning from the performance of rivals like Swiggy and Zomato (now Eternal).

Boosting Domestic Shareholding

  • Target: Zepto plans to raise Indian ownership to at least 51% to comply with FDI norms and reinforce its Indian identity.
  • Actions: The company is conducting secondary share sales to Indian investors and founders are increasing their stakes by buying from foreign investors.
  • Progress: Domestic ownership has reached about 40-44%, with expectations to surpass 51% before the IPO.

Financial and Operational Updates

  • Efficiency Drive: Zepto is optimizing operations, running over 900 dark stores and offering 48,000 SKUs, to reduce cash burn and move toward profitability.
  • Challenges: The company faces stiff competition from Swiggy Instamart and Blinkit, leading to higher costs, and has dealt with operational pauses and regulatory scrutiny in some regions.

Outlook

Zepto remains positive about its future, aiming to raise around $800 million in its IPO and attract both domestic and international investors. CEO Aadit Palicha emphasizes building a sustainable, majority Indian-owned business before entering the public market.

Summary: Zepto’s IPO delay reflects a strategic focus on financial stability and regulatory compliance, with profitability and Indian ownership at the forefront.

Continue Reading

Latest News

Polygon Enters New Era: Leadership Shift and Major Upgrades Under Sandeep Nailwal

Published

on

Polygon StartupStories

Sandeep Nailwal, co-founder of Polygon, has been appointed as the first CEO of the Polygon Foundation, marking a shift from decentralized governance to focused leadership. This change aims to provide clear direction and accelerate Polygon’s growth in the competitive blockchain space.

Under Nailwal’s leadership, Polygon will discontinue its zkEVM network in 2026 to concentrate on the Polygon PoS chain and AggLayer, a new cross-chain liquidity protocol. Significant upgrades to the Polygon PoS chain are planned, starting with the Bhilai upgrade in July 2025, to enhance transaction capacity and support large-scale financial applications.

Polygon enters this new phase with a strong financial position, enabling long-term development without fundraising pressures. While Nailwal leads the Foundation, Marc Boiron continues as CEO of Polygon Labs. This leadership restructuring aims to drive innovation and reinforce Polygon’s position in Ethereum scaling and the Web3 ecosystem.

 

Continue Reading

Latest News

Wow! Momo Raises ₹85 Crore from Stride Ventures to Accelerate Nationwide Expansion

Published

on

WoW Momo StartupStories

Wow! Momo, the Kolkata-based quick-service restaurant (QSR) chain, has secured ₹85 crore (approximately $9.9 million) in debt funding from Stride Ventures, aiming to accelerate its omnichannel expansion and strengthen its presence across India. The company, which operates over 700 outlets in more than 70 cities, plans to utilize the funds to open additional dine-in restaurants, expand its packaged food (FMCG) vertical, and enhance its delivery and supply chain operations. This strategic move will also help refinance existing loans and fuel Wow! Momo’s push into new markets and product categories.

Founded in 2008, Wow! Momo has rapidly diversified its offerings, launching brands such as Wow! China, Wow! Chicken, and Wow! Kulfi, and recently entering the frozen foods segment with quick commerce and retail distribution. The company is targeting a footprint of over 1,500 stores across more than 100 cities within the next three years and aims to grow its FMCG business to ₹100 crore while ramping up its HORECA (Hotel, Restaurant, and Catering) segment. The leadership team views this debt infusion as pivotal for scaling new formats, driving innovation, and building brands that resonate with Indian consumers.

Stride Ventures, known for backing high-growth startups, emphasized Wow! Momo’s strong brand recall, robust business model, and relentless innovation as key reasons for their investment. With this funding, Wow! Momo is well-positioned to further solidify its status as a category-defining player in India’s QSR and FMCG sectors, while preparing for larger equity rounds and a potential IPO in the coming years.

 

Continue Reading
Advertisement

Recent Posts

Advertisement