eBay in investment talks with Alibaba-backed Paytm Mall
US-based online marketplace giant eBay is reportedly in talks to lead an investment of USD160 million to USD170 million in Paytm Mall in an effort to branch into offline to online commerce in India. The deal is likely to be announced in May and it would be the third investment of eBay in India after Snapdeal and Flipkart.
eBay will continue to run its online portal even after the investment. Paytm founder Vijay Shekhar Sharma took board approval to bring in a new strategic investor in December, sensing that Alibaba and SoftBank would not be pumping in fresh capital into the ecommerce company.