Paytm has acqui-hired EduKart, an e-learning marketplace for an undisclosed amount. As of now, EduKart’s website is live and functional and multiple teams are still working at the company, according to a support executive we spoke with. The Mint report stated that around 50 of EduKart’s employees would join Paytm’s seller services division. Paytm confirmed the development to MediaNama but did not respond to our query about the startup’s employees and functions. It is unclear as to how long EduKart will continue functioning for and if its employees will join Paytm. EduKart's co-founder Ishan Gupta now works as the VP of business at Paytm. Gupta has worked with Paytm previously (among other companies) for 2 years before he co-founded EduKart with Mayank Gupta in 2011. Mayank Gupta left the company in December 2014 and joined Zopper as VP of services in August last year. EduKart offers paid online educational courses. It is unclear how this overlaps with Paytm’s business interests, other than the fact that Paytm was one of the modes of payment for EduKart listed courses. Note that Paytm founder and CEO Vijay Shekhar Sharma had invested $500,000 along with Manish Kheterpal in the startup in 2013. In June last year, EduKart had raised $1 million from multiple investors among which Sharma was one. Sharma was also a board member of EduKart. EduKart had also raised $500,000 from angel and institutional investors in March 2013. In January 2015, Mayank Gupta, the co-founder of EduKart had told MediaNama that the company planned to…
