Paytm Mall, the Indian e-commerce organisation backed by Alibaba has already hired 200 people recently, and is expected to add 300 more in the near future.
This online-to-offline (O2O) platform has been gaining popularity across India registering a growth of more than 200 per cent since October 2018. Its O2O platform has made a whole variety of products and offerings available via online and offline stores.
By expanding the workforce, Paytm Mall wishes to provide stiff competition to rival companies.
Launched in February 2017, it had suffered a loss of Rs 1,805 crore and revenues of Rs 776 crore for the financial year ending March 2018. But now things are looking bright with the popularity and success of the O2O platform. In fact, the Company is planning a huge comeback aiming for a business of Rs 10,000 crore in the the next one year. Not only is it planning to focus on hyperlocal grocery delivery but will also enter the fresh produce market. It will be partnering with retail stores, such as Croma, Reliance Digital and Big Bazaar to ensure a powerful offline presence.
Delivery from local and regional stores makes up a huge chunk of Paytm Mall’s business, which includes 35 per cent from items from the warehouse and 15 per cent from wholesale products. Till now, the Company has reportedly raised nearly $653 million from the Alibaba Group, SoftBank Group and SAIF Partners. The Platform is all set to earn approx. two billion dollars this year, via merchandise sales alone.