Highlights

  • Key Investors Alibaba, Ant Group exit Paytm Mall
  • Paytm Mall to explore opportunities in the export business

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Jack Ma was one of the oldest investors in the Vijay Shekhar Sharma-led ecommerce firm, putting in $200 million at a $1 billion valuation in its first fundraise in 2017

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.

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