e-commerce
Warren Buffett’s Berkshire Hathaway in talks to buy stake in India’s Paytm
MUMBAI: Berkshire Hathaway is in talks to invest about Rs 2,000-2,500 crore in Paytm parent One97 Communications, in what could be the first direct investment in India, according to an Economic Times report.
Berkshire, the conglomerate run by billionaire Warren Buffett, is said to pick up a 3-4 per cent stake in Paytm’s parent and the deal is being done through a primary subscription of shares, the paper said citing people familiar with the matter.
The Noida-based company said last month that it conducted 5 billion transactions worth $50 billion in gross transaction value (GTV) on an annualised basis based on its performance in June. It saw total income increase by 38 per cent to Rs 828 crore with losses of Rs 899.6 crore in the year ended March 2017, according to the Registrar of Companies (RoC) filings.
If the transaction goes through, it will give Paytm more firepower to strengthen its market leadership against Flipkart-owned Phonepe and Google’s Tez besides potential competition from Facebook-owned WhatsApp and Reliance Jio.
One of Berkshire’s key fund managers, Todd Combs, who is also seen as a potential chief investment officer at the company, is leading the transaction, as per the reports.
Through One97 Communications, the company owns 49 per cent in Paytm Payments Bank with the remaining stake held by Paytm founder Vijay Shekhar Sharma in his personal capacity as per regulations.
Berkshire’s investment could be clinched in the coming weeks, valuing Paytm at over $10 billion, the report stated.
Japan’s SoftBank and China’s Alibaba Group are among the major backers of Paytm.
e-commerce
Instamart gold dig event at Hussain Sagar goes viral
Hyderabad activation ties to gold price lock offer ahead of Akshaya Tritiya
MUMBAI: All that glitters isn’t just gold, it’s also great marketing. A quirky on-ground activation by Instamart at Hussain Sagar Lake has turned into a viral spectacle, with videos of people digging for gold coins flooding social media feeds this week. The campaign, executed in collaboration with Moms, transformed a patch of the city’s iconic lakefront into what online users quickly dubbed a “mini gold rush”. Armed with spades, participants dug through a mud-filled pit in search of hidden gold coins, an activity that drew crowds, cameras and plenty of commentary online, ranging from amused disbelief to outright fascination.
At the heart of the frenzy was a promotional push for Instamart’s ‘Gold Price Lock’ feature, which allows users to secure prevailing gold rates between April 10 and April 16 and complete their purchase later during Akshaya Tritiya, a period traditionally associated with high gold buying. The mechanic cleverly blended physical participation with digital conversion, turning curiosity into a potential transaction.
Branded as ‘Gold Diggers’, the activation leaned into gamified engagement. Those who struck lucky walked away with coins, those who didn’t were nudged with a simple message: lock the price now, buy later. The result was a steady stream of footfall and a surge in user-generated content, as onlookers and participants alike documented the spectacle.
The timing is significant. India remains one of the world’s largest consumers of gold, with demand peaking around Akshaya Tritiya. Data from the World Gold Council suggests the festival alone accounts for roughly 25–30 tonnes of gold purchases annually, making it a high-stakes window for brands looking to tap into consumer sentiment.
As the ‘Gold Price Lock’ feature remains live until April 16, the campaign has already done its job turning a simple product feature into a citywide moment. Because sometimes, the quickest way to get people talking about gold isn’t to sell it, it’s to make them dig for it.
