India’s Reliance Capital Ltd has sold a less than 1 percent stake in payments and e-commerce startup One97 Communications to Alibaba Group Holding for 2.75 billion rupees ($41.25 million), a sou…
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Mobile wallets take off in India
Mobile wallet brands are benefiting from India’s “demonetisation” as consumers seek out alternative payment options after the government scrapped large denomination banknotes.…
Paytm acquires Shopsity to strengthen O2O offerings
India’s leading mobile payments and commerce platform Paytm has acqui-hired Shopsity, a Delhi-based startup that offers O2O solutions to small retail stores, after it reportedly shut down.…
Goldman Sachs’ Schwartz joins Paytm’s board
Paytm has appointed Mark Schwartz, vice chairman of the Goldman Sachs Group and chairman of Goldman Sachs in Asia-Pacific, as a member to its board.…
Paytm to raise $300 million, valuation likely to hit $5 bn
The deal, which is expected to close in 30-60 days, will value Paytm at about $5 billion, more than double its last reported valuation of $2 billion in May 2015, reports say.…
Mobile retail apps a hit with Indian shoppers
Indian shoppers are developing a love for mobile retail apps, as the middle class and rate of smartphone adoption grows.…
In a year, Amazon and Alibaba will dominate Indian e-commerce
The fight for India’s lucrative e-commerce market will be mainly between Amazon and Alibaba, says Vijay Shekhar Sharma, CEO of Paytm.…
India’s Flipkart raises $1 B in one of largest funding rounds in e-commerce
Flipkart, India’s largest e-commerce marketplace, has raised USD1 billion in one of the largest funding rounds for any e-commerce company globally – and the single largest round by a…