Alibaba’s UCWeb to invest $30m in India and Indonesia in next 2 years

UCWeb, a part of Alibaba Mobile Business Group, plans to invest Rs 200 crore ($30 million) over the next two years in India and Indonesia.

“The funds will primarily be used to tap the huge potential of user-generated content in India on its news distribution and content platform, UC News,” the firm said in a statement on Thursday.

UCWeb provides software and services, including mobile web browser UC Browser, UC News for content distribution and app store 9App.

UC News aggregates news content from social media, content partners such as traditional media houses and self-publishers.

India holds potential to become a large market for such user-generated content, said Jack Huang, president, overseas business of Alibaba Mobile Business Group. “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 minuscule contribution from self-publishing, outlining a huge demand-supply gap” Huang added.

“We plan to add more than 30,000 self-publishers, bloggers and key opinion leaders to our platform in 2017, generating over 10,000 articles for UC News, every single day (across India and Indonesia)”, he said.

Available in Hindi, English and Indonesian, content is aggregated for over 20 categories including cricket, technology and entertainment.

Also Read:

India: Alibaba-backed UCWeb launches $20m fund for gaming startups

Alibaba entertainment affiliate to invest over $7.2b in three years

This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.