Alibaba to invest $177 mn in Paytm E-Commerce, hike stake to 62%

AlibabaPaytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt. Ltd, a wholly-owned subsidiary of Chinese internet giant Alibaba Group Holding Ltd, a financial daily reported on Thursday. Alibaba will invest $177 million (Rs 1,182 crore) […]

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Vijay Shekhar Sharma sells 1% in One97 to raise $48.1 mn for payments bank

Vijay Shekhar Sharma, Founder, PaytmPaytm’s founder and chief executive Vijay Shekhar Sharma has sold 1% of his holding in the digital wallet’s parent firm One97 Communications Ltd, to raise nearly $48.1 million (Rs 325 crore). With the latest transaction, One97’s valuation reportedly stands at $4.8 billion (Rs 32,438.4 crore). The money will be used to fund the group’s proposed […]

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Paytm to merge wallet business with payments bank

PAYTM_Ankit_feOne97 Communications Ltd, the owner of digital wallet Paytm, said on Monday it will merge its wallet business with its upcoming payments bank to comply with Reserve Bank of India’s directions. The digital wallet will be transferred after the company gets necessary regulatory approval to start Paytm Payments Bank Ltd, it said in a blog […]

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Alibaba Group’s global MD Gowrappan joins Paytm board

PAYTM_Ankit_feAlibaba Group’s global managing director K Guru Gowrappan has joined Paytm’s board as an additional director. This marks the third top-level appointment in the digital wallet firm during the last one week. On October 20, Paytm announced that Amit Singhal, the former head of Google search, will join Paytm’s board of directors, while on October […]

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Paytm in talks to raise $300-350 mn from MediaTek, Temasek and others

PaytmOne 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, is in talks to raise $300-350 million (Rs 2,000-2,350 crore) from a clutch of potential investors that include chipmaker MediaTek Inc, Singapore state investment arm Temasek Holdings Pte and Goldman Sachs Inc, several media reports said. According to Mint, which reported the development […]

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Paytm in talks to raise $300-350 mn from MediaTek, Temasek and others

PaytmOne 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, is in talks to raise $300-350 million (Rs 2,000-2,350 crore) from a clutch of potential investors that include chipmaker MediaTek Inc, Singapore state investment arm Temasek Holdings Pte and Goldman Sachs Inc, several media reports said. According to Mint, which reported the development […]

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Alibaba may pick majority stake in Paytm’s e-commerce biz

AlibabaOnline and mobile commerce giant Alibaba, which owns a significant stake in One97 Communications Pvt. Ltd that runs mobile payment and commerce platform Paytm, is likely to pick a majority stake in Paytm’s e-commerce business, a senior company executive said. Paytm has created a separate entity for its online retail business under Paytm E-Commerce Pvt. […]

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