Although the deepening economic has caused households to tighten their purse strings, badly affecting most consumer industries, the e-commerce sector is bucking the trend

The buzz is that the investors include Ant Financial, one of Paytm's earliest backers, and Softbank Group Corp, which had pumped in $1.4 billion last year, the largest fund infusion by a single investor in a desi start-up

Citing Nielsen's E-Analytics data, Amazon had said in a release that it \"witnessed the highest share of transacting customers & purchases across all online shopping platforms in the first 5 days of the Great Indian Festival period\", which concluded on October 4.

Despite challenging macro conditions, the RedSeer report says, festive sales have seen a year-on-year growth of 30 per cent with significant share coming from customers in Tier-II cities

E-commerce festive sales: Flipkart dominated the festive sales (in GMV terms) with nearly 60% standalone GMV share as compared to 51% share in 2018. Meanwhile, Amazon held a 30% market share during this year's festive sales.

Amazon Great Indian Festival saw a record single-day Prime membership sign-ups with 66 per cent of shopping by Prime members coming in from Tier-II and Tier-III towns. Walmart-owned Flipkart also said that it registered a jump of two times in its sales growth on the first day of The Big Billion Day 2019

The Rs 250 crore investment will be used to scale up the product and technology team, setting up new business verticals and growing the market share in existing travel verticals, Paytm said in a release.

According to the Paytm founder, ESOPs worth $150 million were sold by Paytm's employees to New York-based investors nearly three months back valuing the company at $15 billion, compared to $12 billion last year when Berkshire Hathaway came on board

As part of the deal, eBay's global inventory will be available to over 130 million active users on Vijay Shekhar Sharma's Paytm Mall and Paytm's app ecosystem

Earlier in May, Gamepind announced that it has 30 million registered users and the platform witnessed month on month growth rate of 20%

The Gurgaon-headquartered online automobile marketplace intends to leverage emerging technology like AI, machine learning and big data to improve its marketplace solutions and better serve its customer base