Paytm Mall, an online and mobile marketplace and a subsidiary of One97 Communications’ Paytm brand, announced that it has appointed Abhishek Rajan as Chief Operating Officer. Also, the company named Srinivas Mothey as new Senior Vice President.
In his new role as COO, Abhishek will oversee the operations across categories, product, technology, supply chain, marketing and finance. During the last four years, Abhishek (an IIM-Ahmedabad Alumni) has built and scaled up Paytm’s Travel business, driving large revenues for the company at a positive contribution margin.
“Abhishek will specifically focus on strengthening the commerce customer experience and expanding the hyperlocal merchant base, thereby enabling more Kirana stores to be part of the digital commerce journey. He will continue to oversee Paytm’s travel vertical till the time a new business head is appointed,” the company said.
In its blog, the company said that it is moving its operations from Noida (Uttar Pradesh) to Bengaluru and plans to hire over 300 new members for product & technology roles aiming expansion across its business categories.
Speaking on hiring new members, the company said, “This will help us to tap into the rich talent pool available in the city’s consumer internet and startup ecosystem. Our existing workforce has the flexibility to either shift to Bengaluru or continue working from their current location in various roles.”
Paytm Mall offers a wide assortment of products across Mobile, Computers, Apparel, Footwear, Consumer Electronics, Home Appliances, Health & Fitness and General Merchandise. In addition to this, it has partnered with BigBasket for the supply of groceries on its platform.
Vijay Shekhar Sharma, Founder & CEO- Paytm said, “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-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.”
Commenting on his appointment as COO, Abhishek Rajan said, “We would like to think of Paytm’s ecommerce business as a Series A startup with $200 Mn 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/quarter. There cannot be a better starting line for us, as we look ahead to scale the business in a profitable manner.”
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