One97 Communications’ Paytm is in discussions and likely to acquire online travel company Via.com as it doubles down on its travel and hospitality business.
Paytm has held preliminary discussions although a term-sheet is yet to be signed, according to some people aware of the developments. The valuation of Via.com could could hit as high as $80 million for the sale, according to the source VCCircle.
Bengaluru-based Via.com, backed by venture capital investors including IndoUS Venture Partners and Sequoia Capital, had earlier raised about $15 million in funding.
The company was founded in 2007, formerly known as FlightRaja has 100,000 active travel partners across 2,600 towns and cities, and covers more than 13,000 pin codes across Asia.
Communications this year to an entity called Paytm E-commerce, had initiated discussions to pick up a stake in online grocer BigBasket.
That deal, if successful, could see Paytm Mall invest about $200 million in BigBasket for a significant minority stake, placing it in a strong position to challenge Amazon in online grocery retail. This segment claims the largest share of the overall retail market, bigger than categories such as smartphones and fashion that currently dominate online retail.
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