Paytm Mall To Receive $160 Mn From eBay At Post-Money Valuation Of $2.86 Bn

Paytm Mall To Receive $160 Mn From eBay At Post-Money Valuation Of $2.86 Bn

SUMMARY

eBay had announced a strategic partnership with Paytm Mall

eBay has acquired a 5.59% stake in Paytm Mall as part of the deal

The year 2019 started with a rejig of top-level management at Paytm Mall

US-based ecommerce company eBay is investing more than discussed in Indian ecommerce company, Paytm Mall. On July 18,  eBay had announced a strategic partnership with Paytm Mall along with acquiring a 5.5% stake in the Indian ecommerce marketplace. The company was speculated to be investing $150 Mn.

However, according to the Ministry of Corporate Affairs filings accessed by Inc42, Paytm E-commerce private limited is issuing 1,28,028 equity shares at a price of $1,249.73 per share to eBay Singapore Service Pvt Ltd. The transaction is worth $160 Mn.

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