Paytm Mall, the e-commerce unit of One97 communication, has shifted its operational base from Noida to India’s Silicon Valley Bengaluru. Since past few days rumor mills were already abuzz with the report that Paytm Mall is mulling to change its headquarter location.
Following this decision, the SoftBank and Alibaba based company has offered the flexibility to its existing employees to either change their job location or work from their current locations.
The development has come at a time when Paytm’s e-commerce venture was sliding way behind in capturing the market share from its arch-rivals. This was much before coronavirus crises began to cast its shadow on the global economy. In the post lockdown phase, the company’s ecommerce business has been plummeted by almost 80%.
Analysts claim that relocation to Bengaluru will help Paytm Mall to better reach out to tech talent and subsequently beef up its technology, which is critical for the success of any e-commerce business. The decision will also help the company to tap into the burgeoning Southern market.
Being home to millions of software developers and tech geeks, over the years Bengaluru has emerged as the official capital and favorite destination of the startup industry. According to a rough estimate, today nearly 80-90% of Indian startups are based in Bengaluru.
Paytm Mall appoints Abhishek Rajan as COO
In a separate development, Paytm Mall has also rejigged its top management. The company has appointed Abhishek Rajan as its
Chief Operating Officer. Until now Rajan was working as Senior Vice President and head of the Paytm Travel – a position that he has handled for almost five years now.
Rajan had a long stint with a startup before joining Paytm in 2015. According to the LinkedIn profile, he was the co-founder of Easy2commute.com and was at the helm of the startup for almost 11 years. He has also done his Masters in Business Administration (Finance) from IIM Ahmedabad.
Notably, Paytm Mall has rejigged its top management at a time when its CFO and Executive Director Rudra Dalmia has also reportedly resigned. Although Dalmia’s resignation has not been confirmed, his resignation (if confirmed) will be seen as a big setback for the embattled company; his reported resignation has come barely one year after his appointment.