Well, deals platforms ‘Nearby’ and ‘Little Internet’ have merged their operations; Paytm has gone onto grab a major stake in the combined entity. That said, the exact amount of the deal was not revealed by either players, Paytm is said to have acquired a 51% stake in the joint venture, by investing $25 million – approximately INR 161 Cr.
Trade pundits expect the joint venture to produce revenue of close to $100 million by March, 2018. However, that said, founders of ‘Little Internet’ are reportedly going out from the deal. Meanwhile, the investors of both the companies would continue being stake holders in the newly formed joint venture.
