Vijay Shekhar Sharma, Founder and CEO of Paytm, said in a release:
“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 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. I am confident Abhishek will take Paytm Mall to new heights.”
Going ahead, Abhishek will be responsible for setting the vision for Paytm Mall and overseeing its operations across categories, products, technology, supply chain, marketing and finance. He will be specifically focusing on strengthening the commerce customer experience and expanding the hyperlocal merchant base, enabling more kiranas to be part of the digital commerce journey. He will continue to oversee Paytm’s travel vertical until a new business head is appointed.
Abhishek said, “We would like to think of Paytm’s ecommerce 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. In the last three 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.”
The shifting of operations from Noida to Bengaluru will enable Paytm tap into the talent pool available in the country’s startup capital. The existing workforce will have the flexibility to either move to Bengaluru or continue working from their current location.
Paytm also announced that it had elevated Srinivas Mothey as the Senior Vice President, Merchants Solutions.