Paytm might raise Rs 2,000 crore in next funding, to be valued at $5 billion
Advertisement
Advertisement
If everything goes as planned, Paytm would be valued at $5 billion, which is more than double of its present valuation ($2.3 billion) as per last round of capital infusion that took place in June this year.
Also read: War against Cash – Paytm's story so far
The funding round would also be seeing the participation of existing Paytm investors, like Chinese internet giant Alibaba, its payments affiliate Alipay, and venture capital firm SAIF Partners.
"The new round is expected to value the company at close to $5 billion," one of the sources aware of the developments told ET. (S)he added that the money raised would be distributed amongst all of Paytm's businesses, viz. digital payments, online marketplace and the upcoming payments bank.
Advertisement
If the deal takes place, it will be listed as 2016’s biggest round of finance in the country’s broader technology and internet space, leaving behind the $200 million that Snapdeal raised and $150 million that Bigbasket raised.
Also read: 20 Top funded Indian Startups in 2016 so far
The present ownership of One97 includes CEO Vijay Shekhar Sharma holding 21.33% stake, SAIF Partners holding 30.81% stake, Alibaba holding 8.53%, and Alipay being the single largest shareholder with a 32.41% holding.
Image source
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Markets extend gains for 5th session; Sensex revisits 74k
- Top 10 tourist places to visit in Darjeeling in 2024
- India's forex reserves sufficient to cover 11 months of projected imports
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 7 Indian dishes that are extremely rich in calcium