Alibaba, SoftBank to invest USD 222 mln in Paytm Mall

Thursday 14 June 2018 11:06 CET | News

Alibaba has joined SoftBank to invest 15 billion India rupee (USD 222 million) in Indian ecommerce platform Paytm Mall.

The deal values Paytm Mall between USD 1.6 billion to USD 2 billion, two people familiar with the matter told Indian local media.

SoftBank looks to take up a 21% stake in the company, while Alibaba will hold 46% in the company after the completion of the investment.

In the year ended 31 March, 2017, Paytm Mall reported 136.3 million Indian rupee (USD 2 million) loss on total sales of 73.5 million Indian rupee (USD 1.1 million).

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Keywords: Alibaba, SoftBank, Paytm Mall, ecommerce India, online payments in India, Alibaba India investments
Countries: World