The e-commerce division of One97 Communications, Paytm Mall has absorbed 800 employees from the parent company, and made some internal appointments in key executive roles, reports Livemint. The report also mentioned that Paytm Mall plans to hire 2000 more employees in business and technology by the end of this year.
In terms of the internal key executive appointments;
- Sunil Goyal will now be in-charge of product and technology. He had joined Paytm after Near.in, the services marketplace he had founded, was acquired by Paytm in December 2015.
- Bhushan Patil will look after logistics. The former director at Alibaba had been hired by Paytm in March 2016.
- Saurabh Vashishtha will handle marketing. He had joined Paytm in January 2015 from McKinsey & Company.
- Amit Bagaria will handle customer relationship. He has been with Paytm from May 2013 in various senior management roles.
Last month, Paytm Mall had appointed Amit Sinha as its chief operating officer (COO). He was made responsible for overall operations of Paytm Mall, including ensuring customers have access to the products across categories, delivery, and partnering with logistics networks, and expanding the team.
Note that in February this year, Paytm had demerged its e-commerce business into a separate entity called Paytm Mall, which is similar to Alibaba’s TMall. The wallet business was moved to the payments bank company in December.
Foray into O2O commerce: In June, Paytm Mall began exploring the offline-to-online (O2O) commerce by cataloging inventories of physical shops to enable discovery of products online. Customers who walk into any of these shops can scan the Paytm Mall QR code and follow the store online, place orders and get offers. They can buy products from their local retailers, while also getting access to same day or next day delivery through the O2O model. Retailers also get access to customer analytics for better targeting of existing users.
Paytm Mall funding: Paytm Mall raised $200 million from Alibaba Group Holding and SAIF Partners, in March this year. Of this, Alibaba invested $177 million for a 36.31% stake and SAIF Partners invested $23 million for a 4.66% stake in Paytm Mall.