Paytm Acquires a Hospitality Startup ‘NightStay’
The digital payment giant Paytm has taken over a Delhi-based company called ‘NighStay Travels’ that helps the customers to book hotels last minute. The acquisition has been made for around $2o million (around Rs 130 crore) in a cash-and-equity deal, through which Paytm is entering the hospitality space as well.
Founded by Nasr Khan and Deepak Negi, NighStay is basically a mobile-based marketplace that offers its customers attractive deals and unbeatable prices for various luxury hotels. The company currently operates across 12 cities that are Delhi-NCR, Mumbai, Bangalore, Chennai, Hyderabad, Goa, Ahmedabad, Jaipur, Kochi, Pune, Agra and Chandigarh. Paytm will bring in the entire NightStay team.
Talking about the investment part, it has been reported that the hospitality company had ...