Founded in 2010, Paytm started as a prepaid mobile recharge website. Currently its business is not only limited to recharge but has expanded as online payment platform including mobile recharges, utility bill payment, wallet payment and wallet to wallet and wallet to bank transfers for many leading internet based companies like Bookmyshow, Makemytrip, FoodPanda, IRCTC and many others.
It was founded under the implemented idea of Vijay Shekhar Sharma and has got the first mover advantage in the mobile industry. The company has been backed up by Alibaba group and Ratan Tata. The firm raised $575 million from Alibaba group for a share of 25% in the company.
Paytm is growing faster and they have over 20 million registered users as per their current data. Their website and mobile app has been transformed into a fully-fledged e-commerce marketplace offering categories from electronics, mobile phones, sports & health, home & kitchen, books, baby & toys and many more categories.
The app downloaded on various platforms has touched the mark of 7 million. The additional features added like Bargain power which is not currently available at any other marketplace and unified dashboard has made the selling and buying more interesting. Monthly order of over 15 million is completed over here.
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