One97 Communications Founder Vijay Shekhar Sharma says Paytm Mall's focus has been to empower shopkeepers compared to other e-commerce players who are proxy retailers themselves
This comes amid reports of the firm's plans to scale down its online marketplace biz
The company is expanding operations with both online groceries as well as hyperlocal stores
The company, which reportedly engaged consultancy firm EY to conduct the audit, found out that some sellers were colluding with junior employees to earn cashbacks
The platform claims to continue delist fraud merchants and take strict action wherever needed
Paytm Mall, the newest entrant in e-commerce, has set its sights on $10 billion in revenue by March. But the question is not whether it will reach its goal, but how it will do so
Paytm Mall claims that its platform has already received 50 million visitors this month
The firm considers itself as a strong contender in India's e-commerce sector, which is tipped to grow to $200 billion in a decade
The devices would help shopkeepers sell offline as well as online. The company is planning to make the service subscription-based
Paytm Mall recently raised about Rs 29 billion from SoftBank Investment Holdings and Alibaba.com
The company says it will deploy the funds for empowering shopkeepers with superior technology and building logistics, strengthening the Paytm Mall brand and bringing an improving customer experience
he deal, which has been executed through a private placement offer, values Paytm Mall at over $2 billion
According to sources, Paytm Mall is in talks with SoftBank, Singapore state investment arm Temasek Holdings and Primavera
E-commerce major offers Samsung and others a way to get around the online/offline tug of wills
Sinha explained even founder Vijay Shekhar Sharma flies with the cheapest ticket possible
The company is fast bringing in more FMCG brands on its platform as well as getting into hyperlocal tie-ups with grocers to increase its logisticals
One of the most famous addresses in Bengaluru just welcomed a new tenant. Call it coincidence or a calculated move by two companies backed by the same investor. Flipkart's 50,000 sq ft space, base of operation for the e-ommerce giant over more than a decade was taken over by Paytm Mall, to set up another base of operation for the latter marketplace.This was one of the first headquarters that Flipkart, the Sachin Bansal and Binny Bansal-led company, moved into after managing to close a few major funding rounds. Thanks to Flipkart, the popularity of Koramangala in the commercial space market soared. It soon became one of the most sought locations to set shop for 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 had paid Rs 3.5-4 million a month for the old space and Paytm Mall has bagged the lease for Rs 6 mn a ...
The plan will offer year-long coverage against accidental damage including screen damage, liquid damage and theft
Initiatives to educate and promote vendors will be key for online retailers
The company said that its offline-to-online strategy had helped it capture almost 20 per cent of the market share