Winston & Strawn
24 April 2018
SAM, Indus, Themis, ‘Sheds on Paytm $25m buy in Nearbuy-Little Internet; JSA, Winston US for Groupon
Online payment and e-commerce platform, Paytm has made a strategic investment in the resultant joint entity of hyper local deals discovery platforms Nearbuy and Little Internet by infusing fresh funds of over Rs 162 crores ($25m) and acquiring a majority stake of 51%, reported The Economic Times and Mint. The merged entity expected to be valued over $100m and hold a market share of 88%, is said to have been arranged by Paytm as a strategic move to provide their merchant partners an opportunity to offer deals to acquire new customers and grow their business.