Vijay Shekhar Sharma-led Paytm is in advanced stages of discussions to raise up to $1.9 billion in fresh funding from Japan’s Soft-Bank that could value it between $8 billion and $9 billion.
Third India-dedicated fund to place it in big league with $1-billion assets under management
The venture capital firm is said to have made over Rs 257 crore on its seven-year-old investment, as the Canadian investment firm Clairvest picked up a majority stake in Ace2Three for $74 million (Rs 474 crore) last week.
"Advertising, initial driver incentives, strikes in major cities and customer discounts are some of the contributory aspects to the losses seen for Ola,” said an analyst.
One97 Communications plans to earmark nearly $1 billion to expand its payments business into high growth areas like lending and insurance.
In March, Flipkart recorded an average of 5 lakh shipments every day, while Amazon closed in with about 4.5 lakh daily shipments.
After pouring over billions since 2014, Alibaba's early investor Son has not been able to pick winners in either online retail, payments or grocery retail. His firm is now looking to make up for missed opportunities through a string of consolidation plays.
As Japanese telecom and internet major looks to sell Snapdeal and Freecharge owner Jasper Infotech, it is eyeing a significant stake in market leaders.
Naspers, which has backed companies like Flipkart and owns about a third of travel portal MakeMyTrip, is expected to invest $50-60 million as a part of the funding round.
Entrepreneurs and investors bedeviled by growth pangs and lack of sufficient capital in recent months have good reason to be circumspect.
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