Paytm Mall, the online marketplace firm of Vijay Shekhar Sharma-led One97 Communications, is all geared for a comeback and is looking forward to expand its back-end tech team. It is aiming at Rs 10,000 crore in business in the upcoming year.
As a matter of fact, the news has come amidst the reports of the company planning to minimise its online marketplace business and eventually exit it. Sources revealed that Amit Sinha, chief operating officer (COO) at Paytm Mall, who is still overseeing the business, is likely to get another role in the company.
“We are observing strong traction for O2O with the business growing over 200 per cent in the last six months and have therefore doubled down on this business model. To support this growth, we have re-aligned some of our teams and have added 200 more people for the business. We further plan to add an additional workforce of 300 people across business, technology, and product in the next few months,” said Srinivas Mothey, SVP – Paytm Mall.
Reportedly, the company is likely to foray into the grocery space in the upcoming few months.
“The idea is to do a business of around Rs 10,000 crore in the next 12 months. For this reason the company has been on a rapid expansion mode. It is very serious about the online marketplace space and that has been made clear amply by the founder of the company as well,” said a source close to the firm.
Paytm Mall has also collaborated with a number of large format retail stores. Croma, Reliance Digital, and Big Bazaar; Brand-exclusive stores such as Samsung, Asus, Dell, Lenovo, to name a few. It also includes a few large format retail stores for ensuring a strong offline presence in all major tier-II, and tier-III cities.
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