Vijay Shekhar Sharma | Pixr8 News

Paytm Acquires Majority Stakes In Mumbai-based Ticketing Platform Insider.in

13Jul By AdityaNo Comments

ACQUISITION

Paytm Acquires Majority Stakes In Mumbai-based Ticketing Platform Insider.in

One97 Comunications owned India's largest digital payments startup Paytm has recently acquired majority stakes in a Mumbai based online ticketing and events platform Insider.in as per the report. Founded by Shreyas Srinivasan in August 2014, Insider.in will continue running the business by enabling Paytm's more than 200 million registered customers to discover a wide range of events and book them instantly. The terms of the acquisition are not disclosed for now. “Events discovery and ticket booking is a challenge for customers and organisers alike. We believe that digital discovery and events marketing expertise will increase supply of quality events in India. This is a natural extension for us,” Madhur Deora, chief financial officer, Paytm, said in a statement. Srinivasan sa...

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

18May By AnkitaNo Comments

FUNDING

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

Japanese conglomerate SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up. This is Softbanks largest investment in a single company in India. While both the companies have declined to comment on the valuation, market watchers say that the deal values Paytm at about USD 8 billion. The funding will help Paytm expand fast its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers. SoftBank joins Alibaba and its payments affiliate Ant Financial as amongst the largest investors in One97 Communications which operates Paytm. Interestingly, SoftBank was an early investor in Alibaba. "In ...

Alibaba Acquired 1% More Equity in Paytm, Up Stake to 41%

7Mar By AnkitaNo Comments

ACQUISITION

Alibaba Acquired 1% More Equity in Paytm, Up Stake to 41%

Reliance Capital has sold its nearly 1 percent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm. The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives a valuation of over USD 4 billion to Paytm, which is already backed by Alibaba group as a strategic investor. Sources said that Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at USD 1 billion. A Reliance Capital spokesperson declined to comment on the deal while Paytm spokesperson also did not comment. Earlier, Reliance C...

Govt Issues Notices to RJio, Paytm For Using PM Photo in Advts

11Feb By AnkitaNo Comments

News

Govt Issues Notices to RJio, Paytm For Using PM Photo in Advts

The government has slapped notices on billionaire Mukesh Ambani-led Reliance Jio Infocomm and Paytm for using the Prime Minister's photograph in their advertisements. The Ministry of Consumer Affairs, which is custodian of prestige of High Offices like President and Prime Minister as well as historic figures, sent the notices under the Emblems and Names (Prevention of Improper Use) Act of 1950, which bars use of Prime Minister's name and picture for commercial use. "We have sent notices to both (the companies) for using PM's picture in their advertisement. We are yet to receive their response," Consumer Affairs Secretary Hem Pande told Pixr8. The Act provides for a nominal financial penalty for violations but more than the monetary fine holding guilty of for improper use o...

5Feb By AdityaNo Comments

FUNDING

Paytm Payment Bank Received 218 Cr Funding From Vijay Shekhar Sharma & One97 Communications

Vijay Shekhar Sharma, founder and CEO of Paytm & One97 Communications infused 218 Cr in its new venture Paytm Payments Bank. According to the report Vijay Shekhar will invest Rs 111 Crore and while One97 Communications Invest 107 Crore out of Rs 218 crore fresh capital. The payment bank will start operations this month from Uttar Pradesh. Earlier in January, Paytm received RBI nod to start the bank. Till date, Paytm Payments Bank has issued 2,18,000,000 shares to the three shareholders. In others, Airtel Payments Bank and India Post Payments Bank already launched their operations. In December Paytm CEO has sold his 1% equity of Paytm's parent firm One97 Communications for about Rs 325 crore. The amount he received will be invested in the payments bank. Sharma holds 51% stake i...

Paytm’s Net Loss Rise To Four-Fold to Rs 1,549 for FY’16-17

13Dec By PriyankaNo Comments

BUSINESS

Paytm’s Net Loss Rise To Four-Fold to Rs 1,549 for FY’16-17

E-wallet service provider Paytm’s losses grew four-fold to Rs 1,549 crore in FY’16, the Times of India reported on Tuesday citing documents filed with the Registrar of Companies. It had reported a loss of Rs 372 a year ago compared to a profit of Rs 5 crore during FY’14. According to the report, Paytm’s founder Vijay Shekhar Sharma drew an annual salary of Rs 3.1 crore in FY’16. Last week, Sharma sold 1 percent stake in the company for Rs 325 crore to fund his payments bank. Paytm is said to be one of the biggest beneficiaries of PM Modi’s demonetisation drive. The company expects to hit 2 billion transactions by the end of this year. One97 Communications, the firm that owns Paytm will restructure its current business in preparation of its upcoming Payments Bank. As per the direct...

Has Demonetization Really Helped In Growth Of Paytm?

9Dec By Ankita SinghNo Comments

News

Has Demonetization Really Helped In Growth Of Paytm?

December 9, 2016- Now wherever we go, whether its small shops or a big store, we see a Scanning code on the wall with "Paytm logo" which says PAYTM KARO. Paytm is an online payment transaction company that has been highly popular after the "Demonetization". After the Demonetization news was announced, on the next morning Paytm ads were carried on the first page of major newspapers of India. So the common question arises "Does really Paytm have gained beneficiary after demonetization"? As per sources, Paytm was seeking to raise money in August at a valuation of $5 billion. After demonetization Paytm transaction touched 5 million in a day regularly. Paytm transaction total hit Rs 24,000 crore a day and the company registered a 700% increase in overall traffic and 1000%percent growth to Pa...

Paytm Enables Cashless Payments at ‘Mother Dairy’ Booths

13May By AnkitaNo Comments

News

Paytm Enables Cashless Payments at ‘Mother Dairy’ Booths

Paytm, India's leading payments company, has partnered with Mother Dairy, a wholly-owned subsidiary of the National Dairy Development Board (NDDB) to enable customers to make cashless payments through their Paytm wallets across 100+ Mother Dairy Milk Booths. Paytm wallet has become a default mode of payment for customers for a wide variety of services in the country including taxi rides, food ordering, and money transfers etc. The association with Mother Dairy will further help the digital wallet to cement its position as the preferred way to transact across offline and online platforms. "Paytm is focused on creating solutions for everyday payment use cases for Indians. Starting from the morning milk supply to all other everyday necessities, it is our mission to make everyday payments ...

Vijay Shekhar Sharma to Head IAMAIs Payments Banks Group

15Apr By AnkitaNo Comments

News

Vijay Shekhar Sharma to Head IAMAIs Payments Banks Group

Paytm founder Vijay Shekhar Sharma will chair the newly formed Payments Banks Group at industry body IAMAI. Vodafone India business head (M-Pesa) Suresh Sethi will be the Vice-Chairman of the Group, Internet and Mobile Association of India (IAMAI) said in a statement. "Payments Banks is an innovative model of bringing unbanked population into the formal banking fold. Paytm along with other license holders, would make financial services accessible for every Indian through this innovative route," Sharma said. At present, six out of 10 payments banks primary licensees are IAMAI members. IAMAI has more than 50 companies representing PPIs, wallets, aggregators, business correspondents, PoS Operators, among others as members.

PAYTM FINANCIALS: ONE97’S REVENUE AT INR 337 CR, LOSS AT INR 372 CR IN FY 14-15

29Jan By No Comments

ANALYSIS

PAYTM FINANCIALS: ONE97’S REVENUE AT INR 337 CR, LOSS AT INR 372 CR IN FY 14-15

It’s raining discounts on anything and everything you can buy at Paytm. What started out as an online mobile recharge site has transformed into a mobile retail marketplace. Add to it the Paytm wallet and the company offers a complete package to its users. INCORPORATED IN 2000 REVENUE FY 14-15 INR 337 CR LOSS FY 14-15 INR 372 CR FUNDS RAISED INR 4383 CR ABOUT PAYTM Paytm was founded by Vijay Shekhar Sharma in 2010 and is owned and operated by One 97 Communications Limited. It offers a mobile commerce platform that enables the users to do mobile recharge, pay bills and shop at the mobile marketplace. The mobile wallet also allows the users to transfer money, avail deals, pay cab fares and book movie tickets. Other services offered by One...

Meet Baap of Paytm – Vijay Shekhar Sharma

9Jan By RishabhNo Comments

News

Meet Baap of Paytm – Vijay Shekhar Sharma

“I feel I am in my teens, and Paytm is my infatuation.”, said Vijay Shekhar Verma while he was shown in trailer made by MindBatteries. Mindbatteries is a video content creating company started a entrepreneur series called Startupreneur Series. According to Simar, Head of Mindbatteries "Our planning is to create interview of startup founders video series in fun and candid manner. [youtube https://www.youtube.com/watch?v=8fbhK3FKQF8] Vijay Shekhar Sharma is the founder and CEO of One97/Paytm, who is one such an Indian entrepreneur who has reached the heights of success before even reaching 40. The video shows his journey from being a small-town boy from Aligarh to building such a Billion Dollar giant. He owes his success to no one. It is just the result of his hard and smart work...