Paytm
 |
|
| Type of business | Private |
|---|---|
|
Type of site
|
E-commerce Financial Technology |
| Founded | 2010 |
| Headquarters | Noida, Uttar Pradesh, India |
| Founder(s) | Vijay Shekhar Sharma |
| Key people | Vijay Shekhar Sharma (CEO) |
| Services |
Online shopping Digital Payment system |
| Parent | One97 |
| Website | paytm |
| Alexa rank |
 309 (As of January 2017[update]) |
| Current status | Online |
Paytm (Acronym for ‘Pay Through Mobile’) is an Indian payment and commerce company based out of Delhi NCR, India. Launched in August 2010, it is the consumer brand of One97 Communications.
In 2015, Paytm became the first Indian company to receive Alibaba’s funding after it raised over $625 million at a valuation of $1.5 billion with the Alibaba Group being the biggest stakeholder in the parent company One97 Communications. In August 2016, Paytm received an investment from Mountain Capital, one of Taiwan-based MediaTek’s investment funds at a valuation of over $5 billion.
Paytm has invested $5 million in auto rickshaw aggregator and hyperlocal delivery firm Jugnoo. It has also acquired Delhi-based consumer behavior prediction platform Shifu for $8 million and local services startup Near.in for $2 million. Paytm has also spent over INR 200 crores to become the title sponsor of the Indian Cricket team.
The company employs over 13,000 employees as of January, 2017 and has 3 million offline merchants across India. It also operates the Paytm payment gateway and the Paytm Wallet.
Paytm was founded and incubated by One97 Communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for "Pay Through Mobile". Apart from being accessed from the browser, its app is available on the Android, Windows and iOS operating systems.
In 2014, the company launched Paytm Wallet, which became India's largest mobile payment service platform with over 150 million wallets & 75 million android based app downloads as of November 2016. The surge in usage of the service was largely due to the demonetization of the 500 and 1000 rupee currency notes.
In March 2015, Indian industrialist Ratan Tata made personal investment in the firm. The same month, the company received a $575 million investment from Alibaba Group of China , after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement. Paytm borrowed 300cr from ICICI Bank in March 2016 as working capital.
The application enables users to book air tickets and taxis, mobile recharge, and payment of DTH, broadband and electricity bills among others. Users can also pay for fuel at Indian Oil Petrol pumps and buy movie tickets at PVR Cinemas through the wallet. In India, after demonetisation on 8 November 2016, PayTm got a lot of transactions and gained profit in huge amount.
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