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Paytm


Paytm (a partial abbreviation for "pay through mobile") is an Indian multinational technology company that specializes in digital payment system, e-commerce and finance, based in Noida. Paytm is currently available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code. As of January 2018, Paytm is valued at $10 billion.

As per the company, more than 20 million merchants across India use their QR code payment system to accept payments directly into their bank account. The company also uses advertisements and paid promotional content to generate revenues.


History


Paytm was founded in August 2010 with an initial investment of US$2 million by its founder Vijay Shekhar Sharma in Noida, a region adjacent to India's capital New Delhi. It started off as a prepaid mobile and DTH recharge platform, and later added data card, postpaid mobile and landline bill payments in 2013.

By January 2014, the company had launched the Paytm Wallet, which the Indian Railways and Uber added as a payment option.[9] It launched into e-commerce with online deals and bus ticketing. In 2015, it added education fees, metro recharges, electricity, gas, and water bill payments.

In 2016, it launched movies, events and amusement parks ticketing[11] as well as flight ticket bookings and Paytm QR.[12] Later that year, it launched rail bookings[13] and gift cards.

Paytm's registered user base grew from 11.8 million in August 2014 to 104 million in August 2015. Its travel business crossed $500 million in annualised GMV run rate, with 2 million tickets booked per month.[14]

In 2017, it became India's first payment app to cross over 100 million app downloads.[15] The same year, it launched Paytm Gold,[16] a product that allowed users to buy as little as ₹1 of pure gold online. It also launched Paytm Payments Bank[17][18] and ‘Inbox’, a messaging platform with in-chat payments.[19] By 2018, it started allowing merchants to accept Paytm, UPI and card payments directly into their bank accounts at 0% charge.[20][21]) It also launched the ‘Paytm for Business’ app (now called Business with Paytm App), allowing merchants to track their payments and day-to-day settlements.[22] Its merchant base to grow to more than 7 million by March 2018.

Paytm Mall


In February 2017, Paytm launched its Paytm Mall app, which allows consumers to shop from 1.4 lakh registered sellers. Paytm Mall is a B2C model inspired by China's largest B2C retail platform TMall. Sellers have to pass through Paytm-certified warehouses and channels to ensure consumer trust. Paytm Mall has set up 17 fulfillment centres across India and partnered with more than 40 couriers. Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018. In May 2018, it posted a loss of approximately ₹1,800 crore with a revenue of ₹774 crore for financial year 2018. The market share of Paytm Mall dropped to 3 percent in 2018 from 5.6 percent in 2017.


Funding


In October 2011, Sapphire Ventures (fka SAP Ventures) invested $10 million in One97 Communications Ltd.

In March 2015, Paytm received its huge stake from Chinese e-commerce company Alibaba Group, after Ant Financial Services Group, an Alibaba Group affiliate, took 40% stock in Paytm as part of a strategic agreement. Soon after, it received backing from Ratan Tata, the MD of Tata Sons.

In August 2016, Paytm raised funding from Mountain Capital, one of Taiwan-based MediaTek's investment funds at a valuation of over $5 billion.

In May 2017, Paytm received its biggest round of stake by a single investor – SoftBank, thus bringing the company's valuation to an estimated $10 billion.[38] In August 2018, Berkshire Hathaway invested $356 million for 3%- 4% stake in Paytm, although Berkshire Hathaway confirmed that Warren Buffett was not involved in the transaction.

On 25 November 2019, Paytm raised $1 billion in a funding round led by US asset manager T Rowe Price along with existing investors Ant Financial and SoftBank Vision Fund.


Paytm Payments Bank


In February 2017, Paytm launched its Paytm Mall app, which allows consumers to shop from 1.4 lakh registered sellers. Paytm Mall is a B2C model inspired by China's largest B2C retail platform TMall. Sellers have to pass through Paytm-certified warehouses and channels to ensure consumer trust. Paytm Mall has set up 17 fulfillment centres across India and partnered with more than 40 couriers. Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018. In May 2018, it posted a loss of approximately ₹1,800 crore with a revenue of ₹774 crore for financial year 2018. The market share of Paytm Mall dropped to 3 percent in 2018 from 5.6 percent in 2017.

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