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Paytm Raises $200mn from Alibaba, SAIF Partners

by Chinmay Bidkar
March 3, 2017
in News
Reading Time: 1 min read
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Paytm Raises $200mn from Alibaba, SAIF Partners
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03 March 2017, India:

Paytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is all set for raising $200 million in a funding round led by Chinese e-commerce giant Alibaba Group Holding Ltd.

As per the documents filed with Registrar of Companies, Alibaba will pour $177 million and SAIF Partners will chip in with $23 million in Paytm. Post the funding, Alibaba will own a whopping 36.31% in the company whereas, SAIF Partners will own 4.66% shareholding.

Also read- SHIV AND STEVE’S EXCLUSIVE ON SNAP INC IPO AND SNAPDEAL LAYOFF!

One97 Communications has three units—Paytm E-Commerce, Paytm Payments Bank (payments bank and mobile wallet service) and Paytm Mobile Solutions.

Alibaba Group Holding Limited is a Chinese-American e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and data-centric cloud computing services. (Image- Seeking Alpha)

Also read-UBER CEO TRAVIS KALANICK FIGHTS WITH DRIVER, APOLOGIZES LATER FOR OUTBURST
Tags: AlibabafundingInvestmentJack MapaytmSAIF PartnersVijay Shekhar Sharma
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Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

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