Paytm founder Vijay Shekhar Sharma met Todd Combs, an investment manager with Berkshire Hathaway, in Omaha on Valentine's Day
Warren Buffett’s Berkshire Hathaway and Paytm founder Vijay Shekhar Sharma sealed the deal in just one meeting and two phone calls.
“One meeting and two phone calls later, the deal was done,” Sharma said.
Berkshire Hathaway recently bought a minority stake in Paytm’s parent company One97 Communications Ltd. The deal was Berkshire Hathaway’s first investment in a privately-held technology company.
This day is dedicated to my mentor, independent board member Mark Swartz, and @radusuma who is less an investor more a co-founder of Paytm.
Thank you everyone for support & guidance. BRK is a milestone not just for Paytm team, for every Indian startup.
Sharma met Todd Combs, an investment manager at Berkshire Hathaway, at the company’s office in Omaha on Valentine’s Day. The meeting lasted for about three-and-a-half hours.
Sharma and Comb discussed a wide range of topics, from the Indian payments ecosystem, favourite cuisines, personal achievements to the weather.
Warren Buffett was not part of the meeting, Sharma said. He said he was not aware of the reason why Combs lead the deal and not Buffett.
“We met Todd and not Warren. He could take calls. I don’t know of their internal process. Also, Todd has done other payments deals too,” he said.
The proposal first came to Sharma from Mark Schwartz, a member of the Paytm board, who said he’d like to introduce the Paytm founder to Berkshire Hathaway.Sharma also clarified that he has no knowledge of Berkshire Hathaway looking at other Indian companies for investments.The Great Diwali Discount!
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