Paytm may acquire startups Nearbuy and Little, will offer hyperlocal deals: Report
Reports from the Times of India reveal that there are high chances of the Paytm Nearbuy deal happening soon this year. Paytm is willing to acquire two hyperlocal startups. First one is NearBuy (formerly Known as Groupon India) founded by Ankur Warikoo – A pan-India online marketplace which allows its customers to buy directly from local merchants. The second one is Little Internet, a leading app offering deals in the online to offline space that provides discount coupons for commercial establishments.
The Little Internet Private Limited runs the app known as little app. Paytm is currently an investor in it alongside GIC. The startup has raised a huge sum of money around $50 million in year 2015.
One of the second startup in which Paytm is interested is Nearbuy, which was separated from its Parent company – Groupon in the year of 2015. Also Nearbuy funding increased when it raised around $20million from global investor Sequoia and now Paytm Nearbuy deal will help Paytm expand itself into local markets.
Paytm is growing itself and this could be understood by monitoring the pattern of its investment from last two years. For Example, It has recently acquired stakes in a ticketing platform called Insider.
Paytm started its journey in the year 2010 as an e-payment company. It subsequently expanded itself into an online retail and booking platform on which you can book flight tickets and movie tickets. Now-a-days it is also allowing customers to make hotel and restaurant reservations.
After raising investment worth of $1.4 billion in equity infusion from Soft Bank, Paytm has launched its payment bank in May 2015.
Paytm has big future goals as this company is willing to acquire 100million active chat users by year 2018 through introducing its Chat App – Inbox against its direct competitors such as WhatsApp, Messenger etc.
Today Paytm currently provides its services to around 270 million customers and is expected to make a 500 million customer base by the year 2020.