Paytm to earn Nearbuy, Little for around $30 million: Report



Paytm to gain  Nearbuy, Little for around $30 million: Report
By: Ritika shree
13 Nov 2017


Moneycontrol News

Online commerce and payments company Paytm is likely to gain two startups — Nearbuy and Little for around USD 30 million. The deal will be a mix of cash and stock.

Nearbuy (formerly known as Groupon India) and Little Internet provide online discount coupons for restaurants and salons, and commercial establishment deals.

GIC and Paytm are the recent shareholders in Little Internet that runs the app called Little. In 2015, the startup had raised USD 50 million.

Nearbuy, which separated from its parent company Groupon in 2015 - had raised USD 20 million from Sequoia Capital.

Paytm — valued at USD 7 billion — has been on an expansion spree in last two years. In July this year, it acquired majority stake in Insider.in, a ticketing platform.

In 2010, it started as an electronic payments company and has since then increased into online retail and an online booking platform on which you can book movie and flight tickets and even make hotel and restaurant

In May 2015, Paytm also launched its payment bank. Post that, the company lifted USD 1.4 billion in a round of equity infusion from SoftBank.

The mobile wallet company is targeting 100 million active chat users by March 2018 through its recently launched chat app — Inbox. In the long-run, it plans to compete with messaging apps such as Whatsapp and Hike Messenger

Paytm currently has about 270 million overall users. The company is targeting 500 million users by 2020


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