Paytm Merges Little, Nearbuy; Becomes Majority Shareholder
Paytm today said it has acquired deals and discovery platforms, Nearbuy and Little, merged them and acquired a majority stake in the merged entity.
As part of the deal, Paytm has also made a strategic investment in the combined entity. Paytm has infused around $25 million, one person privy to the development told BloombergQuint requesting anonymity.
Sequoia, which is a large investor in Nearbuy, and other existing investors of Nearbuy will continue to be shareholders in the merged entity.
The deal is set to help Paytm strengthen its online-to-offline (O2O) play, as merchants will be able to leverage the platform by offering deals and discounts to the customers, according to a company statement.
This combination of Nearbuy and Little marks a great opportunity for us to reinforce our commitment to support small and large retailers in the new age of mobile commerce and payments. I am sure consumers will love the greater selection and reach of everyday deals and discount offers.Vijay Shekhar Sharma, Founder and Chief Executive Officer, Paytm
Nearbuy and Little work with over 40,000 small and large merchants across food, beauty, travel and other categories.
Little, launched in 2015, raised $50 million from Paytm, SAIF partners, Tiger Global, and others the same year. Nearbuy on the other hand was founded in 2011, was acquired by NASDAQ-listed Groupon Inc, and later renamed Groupon India. In 2015, Sequoia Capital invested Rs 100 crore to become the majority shareholder of the firm and named it Nearbuy.
Also Read: Alibaba-Backed Paytm Aims to Become World's Largest Digital Bank
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
-
Wrong Labels, High Pesticide Residues Holding Back Agri Exports | The Reason Why
India needs stronger domestic food-safety and labelling standards, with best practices becoming part of everyday business for farmers, traders and food companies.
