Paytm ( Acronym for ‘Pay Through Mobile’) is an Indian payment and commerce company based out of Delhi NCR, India. Launched in August 2010, it is the consumer brand of One97 Communications.
In 2015, Paytm became the first Indian company to receive Alibaba’s funding after it raised over $625 million at a valuation of $1.5 billion with the Alibaba Group being the biggest stakeholder in the parent company One97 Communications.In August 2016, Paytm received an investment from Mountain Capital, one of Taiwan-based MediaTek’s investment funds at a valuation of over $5 billion.
Paytm has invested $5 million in auto rickshaw aggregator and hyperlocal delivery firm Jugnoo .It has also acquired Delhi-based consumer behavior prediction platform Shifu for $8 million and local services startup Near.in for $2 million. Paytm has also spent over INR 200 crores to become the title sponsor of the Indian Cricket team.
The company employs over 13, 000 employees as of January, 2017 and has 3 million offline merchants across India. It also operates the Paytm payment gateway and the Paytm Wallet.