Jack Ma-led Alibaba and its affiliate Ant Group have exited Paytm E-commerce Pvt Ltd, the parent company of Paytm Mall, Mint reported, citing company filings.
Paytm E-commerce bought back a combined stake of 43.32% for 42 crore rupees ($5.4 million), valuing the company at just around 100 crore rupees ($10.2 million), which is a massive decline from the $3 billion valuation when the firm last raised funding in 2020, the report added.
Read the full report: Mint.
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