Paytm To Acquire Little, Nearbuy For $30M
One97 Communications owned Paytm is set to acquire two of the most funded deals site- Nearbuy (former Groupon India) and Little for a sum of $30 million TOI reported.
SAIF Partners and Singapore's GIC backed Little Internet and Nearbuy, who had together raised more than $80 million capital will be sold for $30 million only, in a cash and stock transaction.
Little Internet, which runs the Little app, had in 2015 racked up $50 million and later got on board GIC. Paytm and GIC are its significant shareholders after Tiger Global sold out from the company. While Gurgaon based Nearbuy, which broke off from its parent Groupon India in 2015, had scooped up a $20-million cheque from Sequoia Capital at the time.
Also Recommended
Uber Locks On Multibillion Dollar Deal With Japanese So...