eBay Invests in Paytm Mall to Buy a 5.5 per cent Stakes
US-based e-tailer firm, eBay Inc is planning to invest in Paytm Mall, a retail segment of Paytm, so as to buy a stake of nearly 5.5 per cent, the two organisations said, as reported by the daily news, VC Circle.
Both the companies have not disclosed the sum that eBay is offering, however, several media reports peg the investment between INR 1,032.23 crore to INR 1,135.45 crore.
Following the estimated investment, Paytms valuation could increase and lie between the price range INR 22,709.11 crore to INR 24,773.58 crore. After former investments by the Japanese investor, Softbank and Chinese e-tailer, Alibaba, Paytm priced approximately $1.89 billion, according to the daily news, VC Circle.
According to cited reports, the companies said in a statement, they have also reached an agreement that will make eBay inventory accessible to Paytm Mall's customers in India.
We are deeply committed to India and believe there is huge growth potential and significant opportunity in this dynamic market, Senior VP of Asia-Pacific, eBay, Jooman Park told the daily news.
This new relationship will accelerate our cross-border trade efforts in a rapidly growing market, providing hundreds of millions of Paytm and Paytm Mall customers with access to eBays unparalleled selection of goods, Park added.
