Indian electronic payment company Paytm is planning to acquire Little internet. The reason behind doing this is that the electronic payment company wants to expand its online-to-online reach.
About Little Internet
Little Internet was founded by Manish Chopra, Satish Mani, Little app is a consumer lifestyle marketplace from the burgeoning O2O market.
Two years ago, Paytm had led a $50 million funding round in Little Internet along with SAIF partners and Tiger Global Management. Later a Singapore based company GIC also invested in Little Internet. Thus due to this investment Little had given access of hyper local deals to Paytm users.
Little Internet’s acquisition
Earlier Little Internet made two acquisitions which include Chandigarh-based curated deals marketplace Trideal and Stylofie.
Paytm acquires stake in Insider.in
So as to additionally take advantage of the web based ticketing part, Paytm had as of late obtained a dominant part stake in web based ticketing and occasions stage Insider.in, which is supported by occasion administration organization Only Much Louder (OML), for a little finished 35 crore. Other investee organizations of Paytm incorporate auto aggregator Jugnoo and coordination’s administration organization LogiNext, among others.