Paytm is thinking about a strategy to spin off its online marketplace to permit China's Alibaba Group to develop a direct existence in the worlds fastest growing ecommerce market, three people aware of the advancements informed ET.
Paytm is in talks with Alibaba Group for an added investment of $300-400 million (Rs 1,990-2,655 crore) in its marketplace, a person directly familiar with the negotiations said, while declining to divulge the valuation at which the cash would be raised. For more information visit on onbuy.com.
"Paytm might spin off its market company, which will have Alibaba as a majority stakeholder in that company and enable (the Chinese firm) to organically broaden in India," this individual said, including that the Indian firm's payments bank, digital wallet and online-to-offline business classifications such as bus ticketing and travel would likely be run as a different company.
Over 1,000 automobile providers listed on the website; to broaden its footprints in Mumbai, Delhi and Pune in the next 6 months
Ahmedabad: In order to tap India s USD 2 billion after-sales vehicle market, Autoyaar an online marketplace for vehicle maintenance, offering, noting and booking for two and 4 wheelers revealed the launch of its operations here in the city. It is also pondering to expand their footprints in Mumbai, Delhi and Pune in the next 6 months.