According to two sources familiar with the deal, Paytm is in talks to acquire Little Internet, which runs the deal discovery app Little. As per the ET report, the key reason for this acquisition is that Paytm wants to expand its online-to-offline (O2O) reach.
Earlier in 2015, PayTM had put in a $50 million funding in the Little App along with SAIF Partners and Tiger Global Management. Later on, Singapore's sovereign wealth fund GIC also invested in the startup. The Little app is founded in 2015 by Manish Chopra and Satish Mani. It is a consumer lifestyle deals marketplace from the burgeoning O2O market.
Since its launch, Little Internet has made two acquisitions which include Chandigarh-based curated deals marketplace Trideal and Stylofie, a curated platform for offers on salons and spas. Recently in May 2017, Hyperlocal deal discovery site had announced the launch of its operations in three new cities – Kochi, Bhubaneswar, and Nagpur.
In order to further tap into the online ticketing sector, Paytm had recently acquired a majority stake in online ticketing and events platform Insider.in.
With the current user base of more than 225 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and recently launched Payment Bank.
Paytm is founded by Vijay Shekhar Sharma, and is the Consumer brand of India’s leading mobile internet company One97 Communications. Headquartered in the National Capital Region, India, the company’s investors include Ant Financial (Alipay), Alibaba Group, SoftBank, SAIF Partners and Mediatek.
Earlier in 2015, PayTM had put in a $50 million funding in the Little App along with SAIF Partners and Tiger Global Management. Later on, Singapore's sovereign wealth fund GIC also invested in the startup. The Little app is founded in 2015 by Manish Chopra and Satish Mani. It is a consumer lifestyle deals marketplace from the burgeoning O2O market.
Since its launch, Little Internet has made two acquisitions which include Chandigarh-based curated deals marketplace Trideal and Stylofie, a curated platform for offers on salons and spas. Recently in May 2017, Hyperlocal deal discovery site had announced the launch of its operations in three new cities – Kochi, Bhubaneswar, and Nagpur.
In order to further tap into the online ticketing sector, Paytm had recently acquired a majority stake in online ticketing and events platform Insider.in.
With the current user base of more than 225 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and recently launched Payment Bank.
Paytm is founded by Vijay Shekhar Sharma, and is the Consumer brand of India’s leading mobile internet company One97 Communications. Headquartered in the National Capital Region, India, the company’s investors include Ant Financial (Alipay), Alibaba Group, SoftBank, SAIF Partners and Mediatek.
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