Guest
Welcome, Guest

Login/Register

Bookmark Bookmark

eBay picks up 5.5 pc stake in Paytm Mall

US-based e-tailer eBay has invested an undisclosed amount in Paytm Mall, picking up 5.5 per cent stake in the Indian e-commerce platform.


This is eBay's third investment in the Indian e-commerce market, after Snapdeal and Flipkart.


During an investor call, eBay President and Chief Executive Officer Devin Wenig said the company has reached a commercial agreement with Paytm Mall to bring its global inventory onto one of the largest marketplaces in India.


"eBay will open a store on Paytm Mall, which will provide hundreds of millions of Paytm and Paytm Mall's customers with access to our global inventory. As part of this collaboration, eBay is making an investment in Paytm Mall for a stake of approximately 5.5 per cent," he added.


eBay had invested in Snapdeal in 2014. However, it recorded a USD 61 million impairment charge to write down its investment in Snapdeal in 2017.


In the same year, in exchange for an equity stake in e-commerce major Flipkart, eBay made a USD 500 million cash investment and sold its India business to Flipkart.

You might be interested:

Chhattisgarh's Kondagaon district tops NITI Aayog's development rankings

Chhattisgarh's Kondagaon district has topped the ranking of aspirational districts by Niti Aayog for May 2019. Kondagaon was followed by Fatehpur (Uttar Pradesh) and Pakur(Jharkhand), the Niti Aayog s ...

5 months ago

DRDO Research Ship INS Sagardhwani Embarks on Sagar Maitri Mission-2

Oceanographic research vessel of Defence Research and Development Organisation (DRDO), INS Sagardhwani, embarked on a two-month long SAGAR MAITRI (SM) Mission-2 from South Jetty, Southern Naval Comman ...

5 months ago

Vocab Express- 747

Vocab Express- 747 Dear Aspirants, As Vocabulary is one of the important parts of the English section of almost all competitive exams, here we are providing you 5 words. Use these words to improve Wri ...

5 months ago

Vocab Express- 746

Vocab Express- 746 Dear Aspirants, As Vocabulary is one of the important parts of the English section of almost all competitive exams, here we are providing you 5 words. Use these words to improve Wri ...

5 months ago

Vocab Express- 745

Vocab Express- 745 Dear Aspirants, As Vocabulary is one of the important parts of the English section of almost all competitive exams, here we are providing you 5 words. Use these words to improve Wri ...

5 months ago

Vocab Express- 748

Vocab Express- 748 Dear Aspirants, As Vocabulary is one of the important parts of the English section of almost all competitive exams, here we are providing you 5 words. Use these words to improve Wri ...

5 months ago

Provide your feedback on this article: