eBay in talks to invest USD 170 mln in Paytm Mall

Friday 26 April 2019 08:15 CET | News

eBay has begun talks to lead a USD 170 million strategic investment in Paytm Mall, as it looks to explore an offline-to-online commerce and payments strategy in India.

US-based online marketplace eBay has been looking to invest in ecommerce ever since it sold its stake in Flipkart, as the company believes India is a significant and growing market.

The US-bsed online marketplace has announced, back then, that it would end its strategic relationship with Flipkart, which included commercial agreement. The announcement came after Walmart has acquired a majority stake in the Indian ecommerce player.

The investment in Paytm Mall would be the third major ecommerce investment in the territory for eBay, following its minors stakes in Flipkart and Snapdeal.

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Keywords: eBay, Paytm Mall, India, Flipkart, ecommerce, online marketplace, strategic investment
Countries: World

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