Jack Ma exits Paytm Mall; offloads 43% stake for Rs 42 cr: Report

Paytm E-commerce have bought back the entire stake of Alibaba, which held 28.34 per cent, and Antfin (Netherlands) Holding, which held 14.98 per cent stake, a total of 43.32 per cent, for Rs 42 crore.

Early investors in e-commerce marketplace Paytm E-commerce Pvt. Ltd, the parent company of Paytm Mall, Jack Ma-led Alibaba and Ant Financials have exited the company, said a news report. 

Paytm E-commerce bought back the entire stake of Alibaba, which held 28.34 per cent, and Antfin (Netherlands) Holding, which held 14.98 per cent stake, a total of 43.32 per cent, for Rs 42 crore, reported Mint. 

This values the company at a mere Rs 100 crore, plunging from the $3 billion valuation that the Vijay Shekhar Sharma-led company had from its last fundraising in 2020.

In 2017, Paytm E-Commerce Pvt Ltd