Tag "Paytm"

SoftBank closes first round of Vision Fund at $93 billion

By : CIOL Writers

SoftBank’s $100 billion investment fund has announced its first close at massive $93 billion from a slew of investors including  Apple, Qualcomm, UAE-based Mubadala Investment Company, Saudi Arabia’s PID public fund, Foxconn, and Foxconn-owned Sharp. The investment vehicle christened Vision fund will be headed by Rajeev

SoftBank invests whopping $1.4bn in Paytm, now worth over $8bn

By : CIOL Writers

Falling in line with the recent rumours, Japanese leading Internet and telecom major SoftBank has invested whopping $1.4 billion in Paytm’s parent company, One97 Communications Limited. This is apparently the largest funding round scored by a digital startup from a single investor in

Nikhil Vora sells his stake in One97 Communications to Alibaba for Rs 150cr

By : CIOL Writers

Nikhil Vora, an early investor in One97 Communications has sold his entire stake in Paytm’s parent company to Alibaba and earned around Rs 150 crore on his six-year-old investment, reports ET. Former IDFC Securities star equity analyst sold his 0.35

Paytm reportedly to buy FreeCharge at 80pc discount

By : CIOL Writers

Snapdeal may have finally found a buyer for its payments solution arm, FreeCharge. Paytm has signed a ‘non-exclusive agreement’ to acquire FreeCharge in an all-cash deal, reports Economic Times. Citing people in the know of the things, the report said that Alibaba-backed

Alibaba and SAIF executives join Paytm E-commerce board

By : CIOL Writers

Paytm E-commerce, the online marketplace division of payments platform, Paytm has inducted SAIF Partner’s Ravi Adusumalli and four top executives from Alibaba as its board of directors, reports ET. According to filings made with Ministry of Corporate Affairs (MCA), the new members

Paytm to invest Rs 10,000cr to ramp up its banking, financial services

By : CIOL Writers

Paytm will be investing Rs 10,000 crore over the next three years to ramp up its banking and financial services business. “We will invest at least Rs 10,000 crore in our banking and financial services in the next three years. We

Redseer survey: Flipkart and Amazon are going neck-to-neck

By : CIOL Writers

Though Flipkart pocketed in a whopping investment from Tencent, eBay and Microsoft and is also displaying improved performance over the past six months, it is yet to defeat arch-rival Amazon India. According to a survey published by research firm RedSeer Management Consulting

SoftBank reportedly to invest $1.5 bn in Paytm

By : CIOL Writers

Japanese Internet major and investor SoftBank is reportedly in talks to invest $1.2-1.5 billion in Vijay Shekhar Sharma’s Paytm, reports Livemint. If the discussions materialise, the deal could value the One97 Communications Ltd-owned company at $7-9 billion, the report says, citing three people

Paytm rolls out food wallet to take on Sodexo & Ticket Restaurant

By : CIOL Writers

Paytm has launched Food Wallet feature on its app, which allows companies to offer tax-free food allowance to its employees. The wallet meant precisely for corporates will compete directly with existing players like Sodexo and Ticket Restaurant which issue physical coupons

Amazon India gets digital wallet licence; to take on Paytm and Flipkart’s PhonePe

By : CIOL Writers

Online marketplace Amazon India has been granted licence from the Reserve Bank of India (RBI) to operate a prepaid payment instrument (PPI), becoming the latest entrant into the country’s growing FinTech segment. “We are pleased to receive our PPI license from

Paytm launches online-to-offline channel to lure customers to Paytm Mall

By : CIOL Writers

For a more streamlined and convenient shopping experience on Paytm Mall, Paytm has launched an online-to-offline channel to get consumers who may not be making purchases on various online platforms. The digital wallet company has also introduced QR-code-based system on its recently-launched app and

SoftBank to sell Freecharge at 50pc discount for $200mn: Report

By : CIOL Writers

SoftBank-backed digital wallet Freecharge could soon be sold for as low as $150-200 million, reports Economic Times. This value is merely 50 percent of what FreeCharge is worth. Reportedly, Alibaba-owned Paytm is one of the frontrunners to buy the mobile wallet platform owned

Flipkart reportedly to acquire eBay India

By : CIOL Writers

India’s startup poster boy Flipkart is planning to acquire eBay India’s operations as part of its latest funding round of $2billion, according to a Factordaily report. Earlier this week, Bloomberg reported that Flipkart had raised $1 billion and further aimed to

Snapdeal reportedly in talks with Flipkart, Paytm for potential sale

By : CIOL Writers

Online marketplace Snapdeal is reportedly in talks with rivals Flipkart and Paytm E-Commerce Pvt Ltd for a potential sale, according to a Livemint report. Japan’s Softbank Group, an investor in Snapdeal, is leading the sale talks, and the deal could

Flipkart reportedly raises $1bn from Microsoft, eBay and Tencent Holdings

By : CIOL Writers

After a short lull, Indian e-commerce giant, Flipkart once again looks all geared up with a beefed up war chest to take on its rivals. Amidst ever increasing competition and several fundraising speculations, the startup has reportedly raised $1 billion

Reliance Capital reportedly sells 1pc stake in Paytm to Alibaba for Rs 275 cr

By : CIOL Writers

Reliance Capital has reportedly sold its 1 percent stake in Paytm to Chinese e-commerce giant Alibaba and its payment arm Ant Financial Rs 275 crore. The company had been on a lookout for a potential buyer for over a month now. Reliance Capital holds

Paytm’s online marketplace grabs $200mn from Alibaba and SAIF Partners

By : CIOL Writers

Chinese e-commerce giant Alibaba is leading a $200 million investment in Paytm E-commerce Private Limited along with another existing backer SAIF Partners. While Alibaba Singapore E-Commerce Pvt. Ltd will invest $177 million in Paytm’s online marketplace unit, rest will come from SAIF Partners, an early investor

Paytm unveils standalone marketplace app, Paytm Mall

Paytm E-commerce has announced the launch of its new Paytm Mall app on Android. The iOS app is also on the cards. Paytm Mall will offer a unique combination of the Mall and Bazaar concepts to Indian consumers listing over

MobiKwik to invest Rs 300cr to increase user base

By : CIOL Writers

Mobile wallet company MobiKwik is aiming for 150 million users by the year end from its current user base of 50 million. And to achieve this mark, the company has announced an investment of Rs 300 crores. The increase in

Paytm to invest 600cr to expand its QR code-based payment network

NEW DELHI, INDIA: Paytm said that it will invest over Rs 600cr to enable merchants across India for acceptance of digital payments using its QR code based payment solution. The company is investing in scaling up manpower, technology, and merchant