Paytm in talks to acquire Nearbuy and Little

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

In a bid to boost its presence in the hyperlocal space, online payments platform Paytm is reportedly in advanced talks to acquire two deals providing platforms – Nearbuy and Little.

While it is not yet known at what valuation the deals are being discussed, but people aware of the matter have said that both deals may happen at distress prices. As per the reports, this is the second attempt by Paytm to acquire Little. Earlier, the company’s acquisition offer was rejected.

Interestingly, Paytm is already an investor in Little app. Along with SAIF Partners, Paytm had invested around $50 million in the deal discovery mobile app. As a part of the funding round, Vijay Shekhar Sharma and Alok Goel got board seats at Little.

SAIF Partners, which is also a minority stake holder in Paytm, is reportedly playing a key role in negotiating the acquisition deal.

Paytm seems to be in an expansion mode for quite some time. Along with being an online payments platform, the company is allowing users to book movies, make reservations for hotels and travel, among others.

The company recently acquired a majority stake in ticketing platform to allow events on to show up on Paytm. With the acquisition of Nearby and Little, the Noida-based startup is hoping to accelerate mobile transactions on its platform.

Nearbuy, based in Gurugram, was previously a part of NASDAQ-listed Groupon Inc. It spun-out into a separate entity in the year 2015, and was rebranded as Nearby with an organizational reshuffle.

Little is a mobile marketplace for offline deals including restaurants, movies, hotels, salons, gyms and spas. For merchants, it acts as a sales platform they can use to gain intelligence about customers in the vicinity, send timely notifications and offer relevant deals.

Paytm is also focusing on its e-commerce venture Paytm Mall, and aims to scale up the platform rapidly to take on Flipkart and Amazon. It has set aside ₹1,000 crore for marketing and promotion during the festive season sale.

- Advertisement -

Latest News

Kartarpur Corridor to be ready Oct 31, registration from Oct 20

BY RAJNISH SINGHDera Baba Nanak (Punjab), Oct 16 (IANS) The much-anticipated Kartarpur Corridor project for Indian pilgrims to visit...

1st all-woman spacewalk set to take place this week

Washington, Oct 16 (IANS) The first all-woman spacewalk is set to take place this week itself as NASA astronauts Christina Koch and Jessica Meir...

Yashasvi Jaiswal becomes youngest to score List A double hundred

Alur (Karnataka), Oct 16 (IANS) Mumbai opener Yashasvi Jaiswal on Wednesday scripted history as he became the youngest batsman in the world to score...

Mamata visits Nobel winner’s Kolkata house, meets mother

Kolkata, Oct 16 (IANS) West Bengal Chief Minister Mamata Banerjee on Wednesday visited the south Kolkata residence of Nobel prize winner Abhijit Vinayak Banerjee...

No decision yet on Ashwin’s future in KXIP, says Kumble

By Abhishek UpadhyayNew Delhi, Oct 16 (IANS) Kings XI Punjab's newly-appointed Director of Cricket Operations Anil Kumble on Wednesday said no final decision has...
- Advertisement -

More Articles Like This