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The talks with Hotstar come at a time when demand for video streaming services such as Netflix and Amazon Prime Video offering is at an all-time high.
If the deal goes through, the merged entity could raise $250 million from China’s Alibaba Group Holding Ltd.
Meesho last raised $11.5 million in a series-B round from Sequoia India, SAIF Partners, Y Combinator and Venture Highway.
With Berkshire, we have a new vantage point on our capital table and business model, Sharma said.
This is not just Berkshire’s first India investment; it’s also the company’s first in a privately-held tech company in the world.
The deal values Paytm at $10-12b, making it India’s most valuable consumer internet startup.
The deal, likely to be announced in two weeks, will be Berkshire Hathaway’s first investment in the country’s buzzing startup ecosystem.
Samara and Amazon will jointly place their funds in a shell entity, which in turn will buy More from Aditya Birla.
Paytm E-Commerce Pvt. Ltd, which runs the online marketplace, achieved $3.5 billion in annualized gross sales in June.
While AGTech owns 45% of the gaming platform, One97 Communications holds a 55% stake.