It plans to hire over 300 new members for product and technology roles, and is looking to tap the talent pool in Bengaluru which is touted as India's technology hub
BENGALURU: E-commerce firm Paytm Mall has appointed Abhishek Rajan as the chief operating officer (COO) and said it will shift company headquarters to Bengaluru from Noida.
Srinivas Mothey, earlier a senior vice president at Paytm Mall and overseeing e-commerce operations, has been appointed senior vice president-merchants solutions. Mothey will work on retail solutions for Paytm’s merchants in his new role.
The company plans to hire over 300 people for product and technology roles, and is looking to tap the talent pool in Bengaluru which is touted as India's technology hub.
Paytm Mall said it will give its employees the option of moving to Bengaluru or continue working from current location in various roles.
"We would like to think of Paytm’s e-commerce business as a Series A startup with $200 million cash in the bank, where key technology and operations components required for running a commerce business have already been built," said Rajan, the newly appointed COO of Paytm Mall.
"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."
During the last four years, Rajan helped Paytm scale up its travel business, which drove the company's revenues and will continue to oversee the vertical till the time a new business head is appointed.
In his new role, Rajan will oversee operations across categories, products, technology, supply chain, marketing and finance, while focussing on expanding the hyperlocal merchant and kirana store base for Paytm.
"I am very happy to see the way Abhishek has built and led the travel business for us. In the post-covid world, we want to bring commerce to even more customers and serve the SMEs across the country. We are well-capitalised, have a great team, and a massive network of customers to make our O2O model penetrate further in India," said Vijay Shekhar Sharma, founder and CEO, One97 Communications Ltd, the parent of Paytm.
Last week, Mint reported that Paytm Mall was looking to invest in Grofers and MilkBasket and partner with them to get access to their warehousing infrastructure as it looks to boost its hyperlocal delivery play.
At present, close to 40% of Paytm Mall’s GMV comes from grocery deliveries as e-commerce firms were barred from selling anything but essentials in the first three phases of India's lockdown, imposed on 25 March to contain the spread of covid-19.
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