With eBay deal shopkeepers can source US, European products: Paytm founder

One97 Communications Founder Vijay Shekhar Sharma says Paytm Mall's focus has been to empower shopkeepers compared to other e-commerce players who are proxy retailers themselves

E-commerce player eBay has bought 5.5 per cent stake in Paytm Mall. While the deal size has been kept under wraps, sources say eBay invested $160 million in Paytm Mall, which is valued at $3 billion. Numbers aside, Vijay Shekhar Sharma, founder of One97 Communications, in a conversation with Karan Choudhury says while other e-commerce players act as proxy retailers, Paytm Mall is working with offline retailers. Edited excerpts: 

What are the broad contours of the eBay deal? How did it happen? When did the talks begin?

In the beginning of the year, there was mutual introduction to do things together as