eBay buys stake in Paytm Mall

Thursday 18 July 2019 10:57 CET | News

eBay has announced that it is buying a 5.5% stake in India-based ecommerce marketplace Paytm Mall.

According to TechCrunch, the two companies did not disclose financial terms of the deal, but sources suggest that eBay has invested between USD 150 million to USD 200 million in Paytm Mall. The Indian company raised around USD 650 million prior to this announcement, TechCrunch continues.

The agreement will see over one million eBay products made available for purchase to users on Paytm Mall.

Paytm Mall is backed by SoftBank, Alibaba, Ant Financial, and SAIF Partners, and operates on an inventory-led model in India. In the recent months of 2019, it has shifted its focus to offline-to-online and online-to-offline models, wherein orders placed by customers are serviced from local brand stores. Moreover, the company claims to have over 100,000 seller partners on its platform.

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Keywords: eBay, ecommerce, India, marketplace, Paytm Mall
Countries: World