As a matter of fact, abhibus recently partnered with JustRechargeIt.com, an online platform for mobile, information card along with DTH recharges and also a competitor of Paytm, to market bus ticket inventory on its own portalsite. NDTV platform christened Gadgets360, logistics analytics startup LogiNext and auto hailing and delivery program Jugnoo. By investing, One97 aims to grow itself by allowing other ventures to develop. This is a great initiative by One97 and will definitely be appreciated. Hopefully, the investment in both the firms result in a win -- win situation for those parties.
ClearTax is a Indian Income Tax Return e-filing website based from New Delhi. It assists individuals e-file their recurrence by way of uploading their Form-16. It provides end-to-end software and value added solutions such as your Bus Transportation Industry. It has offices in Bangalore, Chennai, Hyderabad and Mumbai and has been set by Sudhakar Reddy in 2007.
When keenly seen, the two firms are operating in different sections and Paytm has invested into two different sectors. The investment in AbhiBus seemingly appears to be interesting since this firm was financed right when Paytm watched it coming as a competition.
Paytm itself offers ticketing services and may not be immediately ascertained if the investment is connected to some backward integration or a possible acquisition in the future. Possessed by One97 Communications initially centered on Mobile and DTH Recharging. This business in itself has increased so much since its inception which today it invested in two growing firms -- AbhiBus and ClearTax.
Paytm , established in 2010 and Who does not know Paytm?