Topics
Latest
AI
Amazon
Image Credits:Dimitrios Kambouris(opens in a new window)/ Getty Images
Apps
Biotech & Health
Climate
Image Credits:Dimitrios Kambouris(opens in a new window)/ Getty Images
Cloud Computing
DoC
Crypto
endeavour
EVs
Fintech
fundraise
Gadgets
stake
Government & Policy
computer hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
Space
startup
TikTok
Transportation
speculation
More from TechCrunch
event
Startup Battlefield
StrictlyVC
newssheet
Podcasts
TV
Partner Content
TechCrunch Brand Studio
Crunchboard
get through Us
Berkshire Hathaway go Paytm - parent firm One97 Communications Friday at a personnel casualty of about 40 % on the high - visibility investment it made more than five days ago .
The Warren Buffett firminvested about $ 260 million in Paytm in 2018 , acquire a 3 % wager in the fiscal services startup at a evaluation of about $ 10 billion .
The investment heavyweight — which sell a wager worth $ 36 million in Paytm in 2021 , at a profit — sold its remaining position on Friday for $ 121.6 million , consort to revelation by the local Indian stock substitution . Berkshire secured a return of less than $ 160 million on its ~$260 million investment in Paytm .
Paytm was Berkshire Hathaway ’s first direct startup investment funds in India , with the passel wide celebrate by the local inauguration ecosystem . Alibaba , SoftBank and T Rowe Price were among other investors in Paytm .
But while Paytm , which allows user to make digital mobile transactions as well as access loan and indue in common finances , made its initial public offering at a valuation Frederick North of $ 20 billion , it fell dramatically in the wake .
Shares of Paytm , which made its IPO introduction in 2021 at $ 25.8 each , fell to as grim as $ 5.58 a year ago . The Amerindic house has since rebounded , ending Friday at $ 10.73 apiece following loyal revenue increase and better finances in late quarters .
Paytm give away last month that its F2Q24 tax revenue development was strong at 32 % YoY , versus 39 % YoY last quarter ( relief owing to timing of online festive sales ) . Payments continued to be strong while the loanword growth stay high but personal loanword growth contain . Profitability improved , making it yet another poop of adjust EBITDA profits .
