Paytm Mall, the online shopping platform of Paytm E-commerce Private Ltd., recently shifted its operations from Noida to Bengaluru, and in leading to this will be hiring 300 new employees in product and technology roles in an effort to expand and ramp-up business across diverse categories.
The company, however, has offered the existing workforce an option to either to move to Bengaluru or work from their stationed location in various roles.
The move would also help it tap into the rich talent pool available in the city's consumer internet and start-up ecosystem, according to a statement by Paytm Mall.
Meanwhile, the e-commerce platform, appointed Abhishek Rajan as the new chief operating officer (COO) of the company, with Srinivas Mothey being elevated as Senior Vice President Merchants Solutions at Paytm.
Speaking of the move, Vijay Shekhar Sharma, Founder and CEO, Paytm said, "In the post-COVID world, we want to bring commerce to even more customers and serve the SMEs across the country. We are well-capitalized, have a great team, and a massive network of customers to make our O2O model penetrate further in India. I am confident Abhishek will take Paytm Mall to new heights".
Rajan, the new COO of Paytm Mall, will be overseeing operations across categories, products, technology, supply chain, finance and marketing besides setting a vision for the company aimed at strengthening the customer experience and expanding its merchant base.
Taking about his vision for the Mall, COO Abhishek Rajan said, "We would like to think of Paytm's e-commerce business as a Series A start-up with $200 million cash in the bank, where key technology and operations components required for running a commerce business have already been built. In the last 3 quarters, the team has done an incredible job of bringing down the cash burn to $2 million per quarter. There cannot be a better starting line for us, as we look ahead to scale the business in a profitable manner".
With an eye on profitability, Paytm Mall has drastically reduced its quarterly cash burn from $17 million to $2 million during the last fiscal.