Paytm buys home services marketplace Near.in
Mobile wallet and e-commerce venture Paytm has acquired Near.in, a marketplace app that connects users with local businesses for home services.
The Economic Times, which first reported the development, said the deal is valued between $1.5 million and $2 million. A formal press release on the announcement is expected shortly.
he Paytm-Near.in deal is the latest instance of consolidation in the online home services segment. Last month, Mumbai-based Crenovative Ideas Pvt Ltd, which operates home services startup Taskbob, acquired Zepper Services Pvt Ltd.
The acquisition allows Paytm, run by One 97 Communication Ltd, to strengthen its tentacles in the online-to-offline (O2O) commerce space.
"O2O is a focus area for Paytm. Local commerce has massive potential in India, and this acqu...