Paytm Mall's valuation down 99% after Alibaba, Ant Financial's exit
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Paytm Mall, One97 Communications' e-commerce arm, saw a significant drop in valuation as its key backers Alibaba and Ant Financial exited the firm. The bowing out of its lead investors has put the company's value at around $13 million, a nearly 99.5% drop from 2020's valuation. In 2021, the firm had dropped out of the Hurun Unicorn Index with a valuation below $1 billion.