Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit

Paytm's Vijay Shekhar Sharma feels the actual heat as his e-commerce business, Paytm Mall’s valuation drops from $3 Bn to $13 Mn with its lead investors Chinese internet giant, Alibaba and investment firm, Ant Financial taking an exit from the firm.

According to report, Paytm E-commerce bought back the entire stake of Alibaba (28.34%) and Antfin (Netherlands) Holding (14.98%), a total of 43.32%, for ₹42 crore.

About Paytm Mall

Vijay Shekhar Sharma had launched Paytm Mall in 2016 to leverage the accelerating online shopping behaviour trend and was able to secure $500 million in a fund-raising round led by SoftBank and other investors giving the company a unicorn tag.

In total, Paytm Mall raised $800 million from various investors such as Alibaba, Ant Financial, SoftBank, Elevation Capital (SAIF Partners), and eBay.