Paytm Mall plans new tech jobs in Bengaluru, set to hire 300 people; trims losses by this much

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Published: June 1, 2020 12:44 PM

Bucking the trend of hiring freeze and layoffs, Paytm Mall, the online shopping platform of the payment application Paytm, has announced it plans to hire 300 new members for product & technology roles.

With a sharp focus on profitability, Paytm Mall has significantly reduced its quarterly cash burn from $17 million to $2 million during the last financial year, trimming losses by over 85% in three quarters.

Bucking the trend of hiring freeze and layoffs, Paytm Mall, the online shopping platform of the payment application Paytm, has announced it plans to hire 300 new members for product & technology roles aiming expansion across its business categories. The Vijay Shekhar Sharma-led company said that the new hiring plans will help the company tap into the rich talent pool available in the city’s consumer internet and startup ecosystem as it shifts operations from Noida to Bengaluru. Paytm Mall also announced the appointment of Abhishek Rajan as the new Chief Operating Officer of the company.

With a sharp focus on profitability, Paytm Mall has significantly reduced its quarterly cash burn from $17 million to $2 million during the last financial year, trimming losses by over 85% in three quarters. The e-commerce space which works on the offline to online model offers customers a vast variety of products ranging from apparel, footwear, consumer electronics, home appliances, health & fitness, and mobiles. Paytm Mall said that as it shifts base from Noida to Bengaluru, the existing workforce will be given the option to either shift to Bengaluru or continue working from their current location in various roles.

Abhishek Rajan, an IIM-A alumni has so far helped Paytm build its travel business. In his new role, the new Paytm Mall boss “will set the vision for Mall and oversee the operations across categories, products, technology, supply chain, marketing, and finance,” the company said. Abhishek Ranjan will specifically focus on strengthening the commerce customer experience and expanding the hyperlocal merchant base. In simpler terms, he will help rope in more Kirana stores to join hands with the Paytm. The battle to rope in Kirana stores is likely to heat up in India as Mukesh Ambani-led Reliance Industries delves deeper into local mom&pop stores luring them in to become a part of Jio Mart.

“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,” said Vijay Shekhar Sharma, Founder & CEO – Paytm. Additionally, Srinivas Mothey has been elevated to Senior Vice President Merchants Solutions by Paytm.

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