The acquisition allows
Paytm, run by One 97 Communication Ltd, to strengthen its tentacles in the online-to-offline (O2O) commerce space.
"O2O is a focus area for Paytm. Local commerce has massive potential in India, and this acquisition will help us grow the
business even further," Kiran Vasireddy, Paytm’s senior vice president, told the newspaper.
Gurgaon-based Thumbspot Inc, which owns Near.in, had received Rs 1.8 crore (under $300,000) in seed funding about a year back. The startup went live last December. It offers services across categories such as home services, health professionals, repair, fitness, beauty, events and photographers besides others.
