Alibaba, Ant Group Exit Paytm E-commerce

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.

India’s Paytm in 2023 Profits Pledge After IPO Flop

Paytm Shares Dive Again After RBI’s Data Probe Order

SoftBank Seen Leaving Boards Of India’s Paytm, Policybazaar

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.