Nov 13: Paytm, the online payments and ecommerce player that has risen to prominence over the past couple of years, is said to be close to acquiring two startup companies. The startups being targeted by the online payments major are Nearbuy and Little Internet, and could involve transaction of around $30 million.
According to a ToI report, the transaction could be a mix of cash and stock. The two startups that Paytm eyes, Nearbuy and Little Internet, are players in the online discount coupons arena and cater to salons, restaurants and the like. Nearbuy had till recently been known as Groupon India. Nearbuy had actually moved way from its parent Groupon in 2015, and had mopped up funds to the tune of $20 million from Sequoia Capital.
The report added that Paytm, along with GIC, holds shares in Little Internet, which is known for its Little app. The start up company had had funds to the tune of $50 million in year 2015.
Paytm has been in the news for its expansion ventures and had been effectively going about it over the past couple of years. This July, the company had picked up majority stake in Insider.in, a ticketing platform.
The company that started as an electronic payments company, now has interests in online retail, an online tickets booking and the like. Recently, Paytm had ventured into banking space with the launch of its payment bank.