Warren Buffett’s Berkshire Hathaway was even willing to invest a greater amount but the company did not have enough space in the capital table, Vijay Sharma, Founder & CEO, Paytm, says in an interview with ET Now.
Vijay Shekhar: Paytm Valuation By Berkshire 'Handsomely Higher' Than Softbank's
Sharma is joining us to talk about the big big deal that's happened. Berkshire Hathaway has invested in the parent company of Paytm my colleague is also joining in congratulations this is a big announcement coming a big endorsement for the patent business so to speak.
Your first reaction really is over yet.
I do believe this is an endorsement for [inaudible] will be the [inaudible] no different year. Now not just investors who are set to begin looking better but now the in their search for blue eyes for [inaudible] is looking to invest in these companies.
I mean I can see them every year because the of the new kind of capital to come into the company can country.
So is this the beginning of a relationship with Berkshire Hathaway. Have they indicated that they would be committing more capital to to pay them directly or indirectly driven about more capital investment that larger amount. But we did not have so much of space in capital so. I don't think that we're talking a downshift vision for the Berkshire Hathaway deal and what was the valuation of the last you know Softbank deal.
Something happened at 7 billion. So. So that is 7 7 billion is acquitted what the exact price I just don't know is that number.
Now the corporate group none of the Softbank deal has happened seven billion dollar plus. Right. And what valuation given by Berkshire Hathaway.
I mean does it have a 7 billion dollar is not publicly quoting that number because this is not coming out of its information that a lot of Google. I'm sorry I won't be able to see this but I can very comfortably say it's a handsome higher then and somebody has lots of bank invested in the place if you can show me this is John truckle calling you from the Bangalore studio.
Thank you so much for finally making that call. I just want to understand how you managed to convince Lakshya to invest in Paytm because they've been very choosy when it comes to the taxpayers. I mean I can almost count on one hand the number of Beezy done tech unitive even let go of IBM. They only have apple. They've regretted not investing in the likes of Amazon and Uber in the past. But take us through how this deal originated from whose site what was that interest.
And I think I'll give this credit to remember Mark Schwartz has been tremendous mentor has been incredible Michael Board me and board everyone. So he he introduced us to talk about ISIS and me and every other Somali we've met and saw him. We had a lengthy conversation with Odin talk and paper or a presentation reading allowed in the article technology and competency and different company philosophies of life. Lot of conversation. Great great conversation and then followed by a couple of calls. When we talk about the company and information and then questions came up before answering the call and the problem that we're talking about there being the 5o commitment and the pacing. So I can't really see a point there. What is that one thing or there. I can definitely say this that we feel that we made one and most important that what I say is that we have a responsibility for proving it to our historical all shareholders in this country.