After Facebook-Reliance, Paytm-Microsoft could now have a deal

by Jeremy Spirogis
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New Delhi. After the deal between Facebook and Reliance, there can now be a deal in Paytm and Microsoft. Financial know-how firm Paytm is in talks with US tech big Microsoft to lift funds. Microsoft can make investments $ 100 million (about Rs 70 crore) in Paytm. Paytm is in talks with Microsoft for a $ 100 million funding. Let us know that earlier this 12 months, Paytm had raised funding of $ 1 billion i.e. about 7600 crore rupees. The potential funding by Microsoft is meant to assist Paytm compete with sturdy rivals equivalent to GooglePay and PhonePe. <! –

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Reliance strikes to lockdown, launches WhatsApp based mostly on-line portal

Raised 1 billion {dollars} in November

Paytm had obtained $ 1 billion in funding in November final 12 months, with T Rowe Price investing the best of Rs 1140 crore, making Paytm value $ 16 billion. Paytm's current buyers had been additionally invested in Alibaba's Ant Financial and Softbank's Vision Fund in that financing spherical. According to a report revealed within the Economic Times, Paytm's negotiations with Microsoft started final 12 months when Paytm was elevating funds. Microsoft couldn’t take part in funding then, so it may now put money into Paytm.

Microsoft made many offers

Microsoft had earlier positioned bets on Flipkart in 2017 and discussed with the Ola app for attainable fund elevating. The agency partnered with Reliance Jio for its cloud business, Azure, in August final 12 months. Washington-based Microsoft is partnering with Indian startups and know-how corporations. The firm is doubling its cloud service and is trying to acquire market share in a troublesome competitors from its rivals, together with Amazon Web Services.

Relais-Facebook Deal

The US social media firm will make investments $ 5.7 billion in Mukesh Ambani's digital property underneath a deal between Reliance and Facebook. Reliance will profit from the take care of Facebook on WhatsApp's India, which is totally locked down on account of Coronavirus, with a 400 million customers base. Through this deal, Reliance has additionally launched its on-line buying portal. According to business advisory agency KPMG, the Indian e-commerce sector shall be value $ 200 billion by 2027. Mukesh Ambani, chairman of Reliance Industries, goals to accumulate a stake within the e-commerce sector by means of the Facebook deal.

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