Paytm Acquires Hyper-Local Service Provider

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Mobile goods and services company Paytm has acquired online marketplace for hyper-local services, cash-and-stock deal, estimated at between $1.5 million-$2 million. “O2O is a focus area for Paytm. Local commerce has massive potential in India, and this acquisition will help us grow the business even further,” said Kiran Vasireddy, senior vice-president and head of investments for Paytm.

“This is a new category for us. All the companies acquired by us till date, have had a strong presence in the O2O space. This business is still a blue ocean for us,” Vasireddy said. Read more



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