Alibaba Marks In­dia En­try with Paytm Topup

Co leads in­vest­ment of .₹ 1,350-1,700 cr in ecomm mar­ket­place busi­ness of Paytm

The Economic Times - - Front Page -

Payal Gan­guly & Mad­hav Chan­chani

Ben­galuru: Alibaba, the world’s largest ecom­merce com­pany, is lead­ing an in­vest­ment round of be­tween ₹ 1,350 crore and ₹ 1,700 crore in the on­line re­tail mar­ket­place of Paytm, ac­cord­ing to two peo­ple aware of the deal, mark­ing the for­mal en­try of the Chi­nese ma­jor into a mar­ket where it will now com­pete with US’ Ama­zon and In­dia’s Flip­kart.

Ali­pay, the pay­ments af­fil­i­ate of Alibaba and in­vest­ment firm SAIF Part­ners, have also par­tic­i­pated in the deal which is ex­pected to value the on­line mar­ket­place — spun out of par­ent com­pany One97 Com­mu­ni­ca­tions — at over $1 bil­lion. Fresh in­fu­sion from Alibaba & Ali­pay will value Paytm E-Com­merce at Paytm’s par­ent was val­ued at

dur­ing the last round of fund-rais­ing in Au­gust 2016

Par­ent en­tity One97 Com­mu­ni­ca­tions has so far from mul­ti­ple play­ers, in­clud­ing Alibaba and Ant Fi­nan­cial

“The Ali­pay-Alibaba com­bine will now own over 50% in the unit,” said one of the peo­ple cited above who termed this an op­por­tune time for Alibaba to en­ter the fray.

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