eBay acquires 5.5% stake in India's Paytm Mall at $3b valuation

eBay acquires 5.5% stake in India's Paytm Mall at $3b valuation

An eBay sign is seen at an office building in San Jose, California May 28, 2014. REUTERS/BECK DIEFENBACH

eBay has agreed to buy a 5.5% stake in e-commerce marketplace Paytm Mall in a renewed attempt by the San Jose, California-based company to grab a foothold in India’s fast-growing and intensely competitive online retail market.

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