Stepping into big shoes? Paytm Mall takes Flipkart's old Bengaluru office

This Bengaluru address was one of the first headquarters that Flipkart, the e-commerce company co-founded by Sachin and Binny Bansal, had moved to after first few major funding rounds

One of the most famous addresses in Bengaluru has just got a new tenant. Call it a coincidence or a calculated move by two companies backed by the same investor, Softbank -- Flipkart's 50,000 sq ft space, the base of the e-commerce giant's operations for over a decade has been taken over by Paytm Mall. Now, the latter, led by Vijay Shekhar Sharma, will set up a base of operations for its own marketplace.

This Bengaluru address was one of the first headquarters that Flipkart, the e-commerce company co-founded by Sachin Bansal and Binny Bansal, had moved to after closing its first few major funding rounds. Thanks to Flipkart, the popularity of Koramangala in the commercial space market zoomed. It soon became one of the most sought-after locations for setting shop among start-ups and venture capital funds.

Flipkart has already moved almost all its office in Bengaluru to a new two million sq ft custom-built campus, at Cessna Business Park on Sarjapur Road. According to sources, it used to pay Rs 3.5-4 million a month for the old space, while Paytm Mall has bagged its lease for Rs 6 million a month.

One97 Communications, the holding company for Paytm Mall, and Flipkart are both backed by Japanese telecom major SoftBank Group. However, the two companies have no plans to join forces anytime soon.

With its new office, Paytm Mall plans to attract infotech talent in Bengaluru and give an impetus to its product development, customer service and other operations. The new office is spread across two floors in the Vaishnavi Summit area and will seat at least 700 professionals. It is expected to be fully operational by this month-end, extending the capacity from its existing offices in HSR Layout and Bannerghatta.