The leading e payment startup in India Paytm is all set to acquire Nearbuy, and Little Internet, startups for providing discount coupons to users for salons, restaurants, etc. Reports suggest that the deal has been fixed at $30 million, and will include both cash as well as stocks.
Nearbuy which was earlier popular by the name Groupon, separated from the parent company in the year 2015, and was able to raise $20million. Paytm and GIC are the current shareholders for Little Internet which is operating the Little app. Little was able to raise $50million in the year 2015.
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Image Source - Paytm blog
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Paytm since its inception in the year 2010 has grown tremendously, thanks to demonetization. The app started as an e payment app and then forayed into online booking as well as retail shopping. Using Paytm you cannot just book movie or plane tickets, but also appointments for dinners and lunches.
Currently Paytm has a net worth of $7Billion and it still expanding. The greatest boost to the app has been observed in last two years. It now has a major stake in the ticketing platform Insider.in as well. With its rivals not being anywhere close, Paytm is expected to continue leading the markets.
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