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Love shopping right? Want things branded? Always want to follow the trend? Online shopping is a process of buying and selling which helps consumers to buy products with a lot of information. Shoppers are able to visit web stores from their homes itself. Isn't it interesting?
Paytm Mall is an E-commerce platform. It helps you to find the latest mobiles online at the lowest prices. Paytm also provides its customers with the best deals, offers and cash backs. Starting from home appliances to laptops everything is available here. Read the Paytm Mall success story below to know more about the company.
Paytm Mall - Company Highlights
| Startup Name | Paytm Mall |
|---|---|
| Headquarters | Bengaluru, Karnataka, India |
| Sector | E-commerce |
| Founder | Vijay Shekhar Sharma |
| Founded | 2016 |
| Parent Organization | One97 Communications |
| Website | paytmmall.com |
Paytm Mall - About
Paytm Mall - Startup Story
Paytm Mall - Founder And Team
Paytm Mall - Tagline, Slogan And Logo
Paytm Mall - Business Model
Paytm Mall - Revenue Model
Paytm Mall - Funding And Investors
Paytm Mall - Growth
Paytm Mall - Competitors
Paytm Mall - Future Goals
Paytm - FAQs
Paytm Mall - About
The company is dedicated towards online shopping like any other e-commerce app or website. But it doesn't deal with options like bill, recharge, payment, utility bills or any other money-related activities. Paytm is a word that everyone has come through. Apart from this many don't know that the shopping section is also available along with the bill payment section. Rest there are no such differences.
Paytm Mall - Startup Story
In the beginning, Paytm dealt with money bills. A few years later the company launched a consumer shopping app for its users. It is inspired by the model of China's largest business to consumer (B2C) retail platform. The aim was to create a combination of the mall and bazaar concept to Indian consumers. With the help of the new app, consumers will now be able to shop from 1.4 lakh sellers. Now the app is available on Android. Soon it will launch an upgraded version.
Paytm Mall - Founder And Team
Vijay Shekhar Sharma is an Indian billionaire businessman. He is also an entrepreneur. He was born in the year 1978 8th July. Currently, his age is 42 years. He completed his education from Delhi College of Engineering. Which is now known as Delhi Technological University. In 1997 he started a website but sold it two years later for $1 million. In the year 2017, he was ranked as India's youngest billionaire. He was also the one who was present in the list of Time magazine's 100 most influential people in 2017.
Paytm Mall - Tagline, Slogan And Logo
The tagline of the company is 'Ab Shopping ke liye bhi, Paytm Karo!'
Paytm Mall - Business Model
The online marketplace of Paytm is a platform, especially for vendors and seekers. The company charges a commission between 5 to 20% of the products sold. The company has moved away from the warehouse model and is leveraging its successful O2O (offline to online) model to save costs up to 35%. With the help of the O2O model, the company has seen a lot of progress. The business model will be improved. Here, customers can also scan codes using their smartphones to shop in their favourite shops. The company feels that these kind of things will help consumers more.
Paytm Mall - Revenue Model
The company has doubled its revenue in the year 2019. Now, again it's aiming towards increasing the revenue by three times in this year 2020. Paytm Mall spent Rs 2140 crores in 2019 to earn revenues of Rs 893 crores. Through brand promotions and shipping fees, the company earns a lot of money. Like Rs 66.7 crores and Rs 50.05 crores itself. The company also earned Rs 75.12 crores through mutual funds in the year 2019.
It also earns through advertisements. But in the year 2018, the company spent Rs 944.21 crores and earned Rs 317.22 crores in the year 2019.
Paytm Mall - Funding And Investors
Paytm Mall has raised a total amount of $795 million in funding over the 3 funding rounds.
| Date | Transaction Name | Money Raised | Lead Investor |
|---|---|---|---|
| July 18, 2019 | Corporate Round | $150 million | eBay |
| June 2, 2018 | Venture Round | $445 million | SoftBank Vision Fund |
| March 3, 2017 | Venture Round | $200 million | Alibaba Group |
The company has made 2 investments till date.
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Paytm Mall - Growth
The company is emerging as the preferred online to offline (O2O) platform across the country. It has seen more than 200% growth in the year 2019. To support and continue this growth the company has added more 200 people for the business in 2019. They are observing strong growth. And more improvement is required in the growth sector. Paytm Mall will consider getting listed on stock changes only after 2021 arrives.
Paytm Mall - Competitors
The top competitors of the company are Koovs.Com, Shopclues.Com and Snapdeal.
- Koovs.Com is the topmost rival of Paytm Mall. The company was founded in 2009 in Haryana.
- Shopclues.Com is one of the competitors of Paytm Mall. The company is headquartered in Haryana.
- Snapdeal is also one of the competitors of Paytm Mall. It was founded in 2007 in New Delhi.
Paytm Mall - Future Goals
The company is aiming towards adding more workers by 2020. Along with technology, business and products, Paytm Mall is ensuring to its consumers that they will be getting a wide range of products and offers across online and offline stores.
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Paytm - FAQs
What is Paytm?
Paytm Mall is an E-commerce platform. It helps you to find the latest mobiles online at the lowest prices. The company also provides its customers with the best deals, offers and cash backs.
How does Paytm work?
Paytm customers can pay, receive and shop with just a smartphone at zero extra cost. Users can simply scan the recipient's QR code or entering their mobile number in the 'Pay' option in the Paytm app to instantly pay virtually anyone with a smartphone and the Paytm app.
Who is the Founder of Paytm?
The owner of Paytm is Vijay Shekhar Sharma
What is the benefit of Paytm?
Paytm offers saving details for wallet, postpaid, saved UPIs, merchant gift vouchers, Paytm payments bank details.
Is Paytm safe to use?
Yes
Which country created Paytm?
India
Is Paytm a Chinese company?
PayTM is completely Indian, it lists Ant Financial, a Chinese bigwig, as its major investor.
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Author: Purbalee Dutta
Source : https://startuptalky.com/paytm-mall-success-story/
Date : 2021-04-13T02:30:00.000Z