Paytm losses up 314% to ₹1,534 crore in FY16
Digital payments and m-commerce platform Paytm posted a net loss of ₹1,534 crore in the financial year ending March 2016, up by 314% y-o-y, according to a filing with the registrar of companies. The Alibaba-backed startup had projected a revenue of ₹869 crore for the year. Founded in 2010, Paytm was valued at $2.3 billion as of June 30, 2016.