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E-commerce firm <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> has recorded a surge in demand for non-essential items like mobile phones and laptops that are required to support work from home, and academic material during the ongoing lockdown, the company said on Wednesday. The platform has recorded over 3.5 lakh requests for non-essential products with demand for mobile phones rising 200 per cent. <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> Mall senior vice-president Srinivas Mothey in a statement said that items like laptops, mobile phones computer accessories that facilitate work from home should be included in the list of essential items. "... we believe that the ambit of essential goods should be increased. India is mostly working from home at the moment but many are finding it difficult as they are running low on certain items necessary to effectively operate under lockdown. "Laptops, mobile phones, and accessories, computer hardware, webcams, all these things should be allowed to be part of essential goods," Mothey said. The company said that lakhs of customers over the last five weeks have earmarked their 'wishlist' on Paytm Mall, in hopes of buying them immediately after the end of lockdown. "Mobile phones which are important parts of life are seeing upwards of 75,000 requests, while 50,000 of Paytm Mall users are waiting for the lockdown to end to buy laptops. Demand for laptop charging cords, phone chargers, headphones, desktop computers, and study tables are also on an all-time high," the statement said. The company said that it has received over two lakh e-mails and 3.5 lakh requests in the comments section for delivering laptops, mobile phones, headphones, trimmers, chargers, academic books and other study materials, consumer electronics as well as white goods since the lockdown was imposed to contain coronavirus infection. According to the data published by the Telecom Regulatory Authority of India, around 97 per cent of broadband connections in the country are accessed through mobile devices. The government has allowed telecom services to support work from home during the lockdown but people are unable to buy mobile devices and related accessories due to restrictions during the lockdown. "If the lockdown continues, lack of proper technical support would hinder the efficiency of employees which in turn would affect a company's operations," Mothey said. Mobile phones industry body ICEA and traders body CAIT have jointly approached Home Minister Amit Shah for allowing sales of handsets as they are pivotal for communications during the lockdown. PRS MRMR

Paytm Mall gets over 3.5 lakh requests for electronic products during lockdown

<ul><li><keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> has reportedly unearthed a fraud of ₹5 to ₹10 crore, after the probe by auditing giant EY. </li><li>Few of <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> Mall employees worked with third party vendors to avail cashback offers, say reports.</li><li>The company had earlier said that it has partnered with E&amp;Y to build a technology driven fraud prevention system.</li></ul>In what could possibly be one of the biggest blows for every Indian startup’s favourite cashback scheme, Paytm Mall has reportedly unearthed a fraud of ₹10 crore. According to reports, few of Paytm Mall employees worked with third party vendors to avail cashback offers. "After Diwali, what my team saw was that there were some small sellers who were getting a large percentage of the cashbacks and we as a team asked our auditors to do a deeper audit," Paytm founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-probe-reveals-at-least-rs-10-cr-fraud-vijay-shekhar-sharma/articleshow/69327442.cms">reporters</a> at a press conference in Mumbai. The event was held to launch Paytm’s cashback card driven by Citibank. Paytm Mall has fired about 10 employees and delisted over 100 vendors from its platform, according to one <a href="https://timesofindia.indiatimes.com/business/india-business/paytm-probe-reveals-at-least-rs-10-cr-fraud-vijay-shekhar-sharma/articleshow/69327250.cms">report.</a> Paytm Mall, however, clarified later that fraud was in the range of ₹5-10 crores. The company had earlier said that it has partnered with E&amp;Y to build a technology-driven fraud prevention system. The company had released an official statement regarding its partnership with E&amp;Y, which will help build Paytm Mall a secure network for its users. In the Indian e-commerce industry, while cashback has been a boon to bring on board a huge number of users, it has also proved to be a bane for companies that are struggling with losses due to these offers. In the same breath, Sharma insisted that the cashback model remains sustainable. Paytm Mall had aggressively grown to bring on board many vendors in its fight against the likes of Flipkart and Amazon. However, it had run into trouble with huge losses and there were reports about Paytm Mall shutting down. In an<a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms"> earlier interview with Business Insider</a>, Sharma had said that the vertical was back on track and having switched to the Online to Offline (O2O) model, they had offloaded multiple vendors from the Paytm Mall platform. See Also: <a href="https://www.businessinsider.in/paytm-partners-with-ey-to-probe-frauds/articleshow/69305406.cms">Paytm Mall ropes in auditing giant EY to crack down on frauds</a> <a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms">‘I want it all and I want it now’, says Paytm founder Vijay Shekhar Sharma as he plans a ticket to the US</a>

Paytm Mall fires 10 employees and 100 vendors after a million-dollar cashback fraud

<ul><li><keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword>, the e-commerce subsidiary of One97 communications which owns <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, inked a partnership with Apple. </li><li>All <keyword id="115736" type="PERSON" weightage="20" keywordseo="Apple-products">Apple products</keyword> listed on the e-commerce website will have an authorized tag. </li><li>This will offer consumers a fair and better price, believes Paytm Mall.</li></ul>Paytm Mall inked a partnership with Apple to sell its latest products in India. With this partnership, all Apple products listed on the e-commerce website will have an authorized tag, and is a mark of genuine product. Meanwhile, Apple will list Paytm Mall as an authorized reseller for its products in India. So, an independent seller too will have to get authorization from Apple, before listing itself on Paytm Mall. “Paytm Mall is one of India’s leading seller of premium mobile phones, and adding Apple’s range will further strengthen our list of offering to our customers. Our customers will also be eligible to avail offers such as additional discounts on select credit cards and cashbacks. All the latest Apple products will be available on our platform and will come with a valid standard Apple warranty,” said Srinivas Mothey, Sr. Vice President at Paytm Mall. Paytm Mall has been upping its ante in the heavily competitive e-commerce ecosystem of the country. Given the craze for Apple products in India, this partnership could work in its favour. Paytm Mall is the e-commerce subsidiary of One97 communications which owns Paytm. It is aiming to turn profitable in the next two years. The company said that it reduced its monthly spends by ₹400 million, is targeting an EBITDA breakeven by 2021-22. EBIDTA is earnings before interest, depreciation, tax and amortization. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022.

Paytm Mall partners with Apple to be an authorized seller for iPhone, iPads and more

A cybercriminal group with the alias ‘John Wick on Thursday said in a tweet that it did not hack <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword>, even as the group claimed responsibility for briefly hacking the Twitter account linked to Prime Minister Narendra Modi's personal website. <div type="Article" hostid="261" msid="77902203" title="Twitter account of PM Modi's personal website hacked — asks followers for Bitcoin and Ethereum donations" mstype="2" mssubtype="0"></div> "This account is hacked by John Wick (hckindia@tutanota.com), We have not hacked Paytm Mall," John Wick posted after taking over the Twitter account. The authenticity of the claims could not be immediately verified. The development comes after cyber-risk intelligence firm Cyble on August 30 wrote in a blog post that "John Wick" was able to upload a backdoor/Adminer on Paytm Mall application/website. The group gained unrestricted access to the entire databases of Paytm Mall, Cyble said in the blog post. "According to the messages forwarded to us by the source, the perpetrator claimed the hack happened due to an insider at Paytm Mall. The claims, however, are unverified, but possible," Cyble said. Paytm Mall said that the claims are "absolutely false". "We would like to assure that all users, as well as company data, is completely safe and secure. We invest heavily in our data security, as you would expect," a Paytm Mall spokesperson said in a statement. "We have been investigating the claims of a possible hack and data breach, and haven't found any security lapses yet. "We also have a Bug Bounty programme, under which we reward responsible disclosure of any security risks. We extensively work with the security research community and safely resolve security anomalies," the spokesperson said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-modi-twitter-account-hacked-heres-what-the-hacker-had-tweeted/articleshow/77902203.cms">Twitter account of PM Modi's personal website hacked — asks followers for Bitcoin and Ethereum donations</a> <a href="https://www.businessinsider.in/tech/enterprise/news/rise-in-work-from-anywhere-will-lead-to-more-outsourcing-thats-an-opportunity-for-tcs-infosys-and-hcl-tech/articleshow/77864248.cms">TCS, Infosys and HCL Tech have the most to gain from post COVID wave of outsourcing</a> <a href="https://www.businessinsider.in/tech/apps/news/india-bans-pubg-wechat-and-118-other-mobile-applications/articleshow/77890776.cms">India bans PUBG, Ludo World, and 116 other Chinese mobile applications</a>

'John Wick' hacked PM Modi's Twitter handle to say they didn't hack Paytm Mall

<ul><li>In an interview with Business Insider, <keyword id="323682" type="PERSON" weightage="20" keywordseo="Rudra-Dalmia">Rudra Dalmia</keyword>, Executive Director, <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> shares the aggressive growth plans <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> Mall has. </li><li>In July, American e-commerce giant eBay had bought a 5.5% stake in Paytm Mall. </li><li>The company is already contribution margin positive and is aiming for net profitability. </li></ul>Paytm Mall is headed to new shores – Middle East, thanks to its latest investor – e-commerce giant eBay. American e-commerce giant eBay had bought a 5.5% stake in Paytm Mall, <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>’s new e-commerce vertical in July. “We are going to build a very large Gulf business and export is going to be a big thing for us. Currently, we are testing the partnership with Ebay, who will expose our Indian catalogue there,” said Rudra Dalmia, Executive Director, Paytm Mall in an interview with Business Insider. Through eBay’s investment, Paytm Mall will also make eBay’s entire catalogue available to Indian users. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022. It also cut it costs by 85-90% every month. “We are already make a margin positive contribution. Now we don’t sell anything, where we lose money. The aim is to now achieve net profit which will take a few years,” said Dalmia. Hard decisions It was a cold December morning, when the newly joined Dalmia had a meeting with Vijay Shekhar Sharma, who said “this is not working”. That’s when Paytm Mall changed the way it worked to become an O2O model led business. With this, Paytm Mall now drives its online traffic to offline stores through gift vouchers, offers and uses offline strength to push online traffic through digital payments only. “We took some hard decisions and decided to focus on the bottom line. We cut all unnecessary costs with an aim to be contribution/revenue positive. So, we turned the focus on paytm’s strengths – merchants and huge user base,” said Dalmia. It plans to piggyback on the success of Paytm, whose monthly transactions are as much as 400 million transactions, to drive demand. Better business, not a bigger business Today, Paytm Mall is a ‘for, by and of the merchants’ platform. While e-commerce still has a 40% role, O2O now takes up the 60% chunk of its business. “We want to be a better business, not a bigger business. Paytm already has over 13 million merchants onboarded. And there’s a lot of trust. One of the biggest achievements of Vijay has been to convince people that Paytm money is real money,” said Dalmia. This is good news for the company, as its prospects did not look very good a while back and reports said that it might close down. Yet its fortunes changed by May 2019 as the company said that it grew by 200% in six months, and hired 200 people. And they are still hiring aggressively across roles, informs Dalmia. “In hyper growth companies, you grow, you consolidate and then you turn profitable. We are currently consolidating and we will show how it is done,” said Dalmia.

‘We will show how it’s done’ – Paytm Mall heads to the Middle East, with a push from eBay

<ul><li><keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> has partnered with EY to probe a <keyword id="7625462" type="UNKNOWN" weightage="20" keywordseo="cashback-fraud">cashback fraud</keyword>, according to reports. </li><li>However, the company has said that it has partnered with <keyword id="123893" type="COMPANY" weightage="20" keywordseo="EY">E&amp;Y</keyword> to build a technology driven fraud prevention system.</li></ul><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> is back in the news again for trouble brewing in its quarters. The company has brought in consulting and auditing giant EY to probe into a possible cashback fraud involving a Paytm employee, according to a report by <a href="https://timesofindia.indiatimes.com/companies/ey-probes-cashback-fraud-at-paytm-mall/articleshow/69299398.cms?">TOI.</a> No further details are known yet and when reached out, Paytm spokesperson was unavailable for comment. If true, this will be the second time Paytm will face a setback from one of its own employees. Earlier in October 2018, Paytm was caught in a <a href="https://www.businesstoday.in/current/corporate/paytm-extortion-i-am-stunned-but-still-believe-sonia-vijay-shekhar-sharma/story/286422.html">scandal</a> involving its Chief Communications Officer Sonia Dhawan in an extortion case. Dhawan was accused of allegedly blackmailing the Paytm founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, to extort ₹20 crore from Sharma. However, Paytm Mall has said that it has partnered with E&amp;Y to build a technology driven fraud prevention system. The company has released an official statement regarding its partnership with E&amp;Y, which will help build Paytm Mall a secure network for its users. “Our partnership with E&amp;Y will help benchmark with global best practices as we build a Technology Driven Fraud Prevention System to scale our operations. Our teams continue to work closely with E&amp;Y to share our learnings and insights. We are committed to build a trusted commerce platform and will take strict action against wherever needed,” said Srinivas Mothey, Sr. Vice President – Paytm Mall. While Paytm has seen a fairly smooth and fast growing journey of success, its subsidiary Paytm Mall has run into multiple problems since its launch in 2016. There were even reports that Paytm Mall might not see the light of the day, however things seem to be turning around for the company. According to the company’s statement, Paytm Mall has seen a 200% growth in the past six months. Over the months, it also went on a hiring spree to bring on board 200 people who will help map its growth. “Paytm Mall is a business that has learnt that Online to Offline (O2O) is the best business model. Our attention on partners keeping items in warehouses has now significantly reduced and we have offloaded many partners," Paytm founder Vijay Shekhar Sharma had said in an earlier interview with Business Insider. "Our focus now is on shops – from where the shipments will happen. This model has worked out incredibly well for us. Year on year, we are up and have already cut one third of the costs." See Also: <a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms">‘I want it all and I want it now’, says Paytm founder Vijay Shekhar Sharma as he plans a ticket to the US</a> <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce </a>

Paytm Mall ropes in auditing giant EY to crack down on frauds

<ul><li>American online retail firm <keyword id="6357395" type="UNKNOWN" weightage="20" keywordseo="eBay">eBay</keyword> has bought a 5.5% stake in <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword>. </li><li>Vijay Shekhar Sharma owned Paytm Mall hopes to turn profitable in the next two years. </li><li>However, this isn’t eBay first bet on Indian e-commerce, its previous two – <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> – failed to work out for the company.</li></ul>American e-commerce giant eBay has <a href="https://www.livemint.com/companies/news/ebay-logs-into-paytm-mall-with-5-5-stake-eyes-pie-of-online-retail-1563420493902.html">bought</a> a 5.5% stake in Paytm Mall, Vijay Shekhar Sharma’s new e-commerce vertical. While the details of the transaction remain undisclosed, <a href="https://yourstory.com/2019/07/paytm-mall-funding-ebay-ecommerce-india-vijay-shekhar-sharma">reports</a> say that the American firm is pumping in about $170 million into Paytm Mall at a valuation of $3 billion. Paytm Mall, the e-commerce subsidiary of One97 communications which owns Paytm, aims to turn profitable in the next two years. The company said that it reduced its monthly spends by ₹400 million, is targeting an EBITDA breakeven by 2021-22. EBIDTA is earnings before interest, depreciation, tax and amortization. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022. However, what’s interesting is eBay’s India growth trajectory. It had entered the Indian market in 2004, much before e-commerce really took off in the country. However, it has struggled to gain ground. eBay’s first invested in Indian e-commerce was in <a href="https://www.thenewsminute.com/article/ebay-takes-61-million-hit-snapdeal-writes-investment-76169">Snapdeal</a> which resulted in a $61 million loss. After the disappointment, eBay moved to the Indian e-commerce success story Flipkart, where eBay sold its India operations to Flipkart in 2017. However, within a year, Flipkart shut down the operations of eBay. When the Indian retail unicorn was acquired by global giant Walmart, eBay sold its stake in Flipkart for $1.1 billion.

eBay is trying to get third-time lucky with Paytm Mall after burning hands with Flipkart and Snapdeal

<ul><li><keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> has released its monthly spends by ₹400 million and aims to turn profitable in two years. </li><li>The company aims to rake in a ₹170 billion GMV by 2022.</li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> Mall has had multiple problems since its inception, where there were also rumours that the company might not see the light of the day.</li></ul>Paytm Mall, the e-commerce subsidiary of One97 communications which owns Paytm, is aiming to turn profitable in the next two years. The company said that it reduced its monthly spends by ₹400 million, is targeting an EBITDA breakeven by 2021-22. EBIDTA is earnings before interest, depreciation, tax and amortization. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022. “We do not lose money on any order we ship. More than GMV, we are focused on increasing revenue and factors contributing towards it. We expect 70-80% of the orders being shipped from the same city. We would be happy to be a cost attention company rather than no attention at all,” said Srinivas Mothey, Sr. Vice President – Paytm Mall. This is good news for the company, as its prospects did not look very good a while back and reports said that it might close down. Online to Offline Yet its fortunes changed by May 2019 as the company said that it grew by 200% in six months, and hired 200 people. In an earlier interview with Business Insider, Paytm founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> shared what worked for them. “Paytm Mall is a business that has learnt that Online to Offline (O2O) is the best business model. Our attention on partners keeping items in warehouses has now significantly reduced, and we have offloaded many partners," he had said. Today, the platform has 100,000 sellers and is planning to scale up by three times. It also plans to piggyback on the success of Paytm, whose monthly transactions are as much as 400 million transactions per month, to drive demand.

Paytm Mall hopes to turn profitable in 2 years

New Delhi, Apr 27 () E-commerce firm Paytm Mall will partner around 10,000 grocery and small shops in over 100 cities over the next few weeks to increase local deliveries, the company said on Monday. The e-commerce firm claims to have over 1 lakh merchants already on board. Paytm Mall said, "It will partner with over 10,000 kirana stores, small shops, and businesses for hyperlocal deliveries. The company has been investing in scaling up its hyperlocal operations over the past few weeks and is now offering delivery of grocery essentials in more than 100 cities across the country and plans to scale it to more cities within the next few weeks." E-commerce firms have been flooded with orders during the lockdown leading to delay in deliveries of product. Most of the e-commerce firms are operating in limited cities. According to Paytm Mall, there has been a massive uptick in the sales of grocery essentials from tier-II and tier-III towns. Cities including Indore, Ahmedabad, NCR, Bengaluru, Lucknow, Pune, Chennai, Ludhiana, and Bathinda have all seen a rise in orders. "Our objective is to connect neighbourhood offline stores to interested customers far and wide through our e-commerce platform. During this time of crisis, we want to ensure that our merchant partners do not lose out on business. Our tie-ups with small businesses would ensure that service our customers faster and hyper-locally," Srinivas Mothey, senior vice-president, Paytm Mall, said. The company said leading logistics players, including GATI, Ecom Express, Delhivery, Bluedart and FedEx, are working with Paytm Mall. The company said that as more fulfilment and delivery executives of logistics partners join back to work, more orders would be eligible for same-day delivery. PRS HRS

Paytm Mall to partner 10,000 more shops for hyperlocal deliveries

New Delhi, May 11 () Demand for electronic products, specially mobile devices and accessories, has surged around 1.5 times on Paytm Mall after the government allowed online sales in orange and green zones, the e-commerce company said on Monday. Overall, the demand for products in non-essential categories has grown two-folds compared to March sales after the government allowed sales in orange and green through e-commerce firms from May 4 onwards, it said. Paytm Mall said it saw a steady increase in demand and sales of headphones, speakers, mobile &amp; laptop accessories, home items. "There has been an overall 1.5 times increase in demand for consumer electronics including headphones like Bluetooth. With India working and studying from home, the demand for headphones, laptop &amp; mobile accessories, keyboards, data cables, memory sticks, has also gone up," the company said in a statement. The company witnessed a surge in searches and the sale of mobiles, masks, and trimmers and expect these categories will see strong sales once more relaxations in red zones come and the trend seems to remain strong over the next few weeks. Paytm Mall senior vice president Srinivas Mothey said that people are buying products that cater to the change in their lifestyle caused by this prolonged stay at home. Paytm Mall has also seen some surprising trends emerging in the last one week which is a surge in demand for popular board games including ludo, chess, monopoly, scrabble, and risk. PRS MRMR

Paytm Mall records 1.5 times demand in electronics, mobile phones

Several investors have lined to rake in money in <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> and latest to join the list is Chinese ecommerce giant <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>. As per various reports, Alibaba, <keyword id="4225623" type="UNKNOWN" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword>, Temasek Holdings, Fosun Group, etc, are in fundraising talks with BigBasket. Also, Alibaba has shown interest in picking up a stake in BigBasket. ET quoted sources as saying Alibaba-Paytm Mall combine have offered to invest $200 million in BigBasket at a valuation of nearly $900 million post the investment. Meanwhile, Fosun's venture capital arm Kinzon Capital is in discussions with BigBasket for co-investment in the ongoing funding round with a cheque of $20-30 million. "It is for the founders to decide who they would like to go with," ET quoted sources as saying. Alibaba and <keyword id="649392" type="COMPANY" weightage="20" keywordseo="Alipay">Alipay</keyword> own over 50% stake in Paytm Mall and have been focussing on investments in grocery and physical retail investments across the globe. "As matter of policy, we do not comment on market speculation and rumours," an associate on behalf of Temasek said in response to ET's queries. Apart from Alibaba, Amazon is also concentrating on the online grocery market in India. The company is likely to begin directly selling groceries and other food products online after recently securing the government's approval for its proposed $500-million foreign direct investment in the business.

BigBasket valuation may touch $900 million; Here’s how it is set to become bigger

New Delhi, Feb 18 () Paytm Mall on Tuesday said its subsidiary Paytm Wholesale Commerce (PWC) has partnered with a number of entities to take Indian products to markets like Southeast Asia, the Middle East, Africa and the US.PWC - a subsidiary of Paytm Mall (Paytm Ecommerce Pvt Ltd) - is a trading house and has tied up with few companies on supply as well as buyer side, a Paytm Mall spoksperson said."We are scouting for buyers through intermediaries, and trade shows. Once a query comes in, we go back to our suppliers or commodity market for sourcing as per buyer specifications. We build our costs and quote to buyer to meet his target prices, if any. On quotation acceptance, we go ahead with processing the order," the spokesperson added.The entity is taking Indian products like rice, spices, tea, dried fruits, millets, essential oils, quinoa, moringa, organic food, frozen food, fresh fruits and vegetables, pulps and pastes, to international markets."We have entered into the exports with an objective to offer a range of Indian products across the global markets with super efficiency. Our efforts are to become the single largest gateway for global consumers to buy Made in India products. We have a well-established network of suppliers and are deploying our team across the geography," Paytm Mall Senior Vice President Sanjeev Misra said.The company said it has been engaging with multiple partners like Mawarid Distribution, Mayar Foods, Vedica Organics, Ceegee Impex and Five River Foodstuff."With the target of Rs 500 crore gross merchandise value (GMV) in the first two years of operations, Paytm Mall has been setting up the team in these centres to leverage more opportunities and to carry out the trade across geography in a more efficient manner," the spokesperson said. SR SR ANUANU

Paytm Wholesale Commerce aims to take Indian products to intl mkts

New Delhi, May 18 () Following two months of continuous lockdown and complete shutdown of salons, e-commerce firm Paytm Mall on Monday said it saw a 50 per cent rise in May so far in the sales of trimmers, epilators, face scrubbers and other personal grooming products from tier-II, tier-III and other smaller towns compared to March. The home ministry on May 4 allowed e-commerce companies to deliver non-essential products in green and orange zones, and from May 18, the firms can supply all items in red zones also. Before the government allowed deliveries of non-essential items in red, orange and green zones, Paytm Mall got over 35,000 wishlist requests for trimmers, epilators and face scrubbers, the company said in a statement. "With hairstyling and grooming salons remaining shut due to the ongoing lockdown, we have seen a massive surge in the demand for personal care products on our platform. There has been almost a 50 per cent jump in the sale of shavers, trimmers, epilators, hair straighteners and styling products, among other products," the statement said. Paytm Mall said looking at the high consumer demand for personal grooming products like shavers, hair clippers, straighteners, and beard trimmers, the company got in touch with brands and requested them to ramp up supplies. "The company is now delivering personal grooming products in all red, orange and green zones across the country," the statement said. According to the company, there has been a steady increase in the number of female shoppers from smaller towns on the platform and some of the most popular items for grooming products for women include epilators, facial trimmers, callus removers, hair straighteners, stylers, crimpers, and facial cleansers, among other products. Paytm Mall Senior Vice-President Srinivas Mothey said the lockdown has made people realise in metros as well as smaller cities that personal grooming products should always be kept handy. "We think the demand for these products is set to rise further over the next few weeks and after that, it would remain consistently high. We believe this trend is here to stay and these products are set to be part of household essentials going forward," Mothey said. Paytm Mall said more people in tier-II, tier-III, and other towns are now opening up to the idea of buying personal grooming gadgets and products online. "Cities such as Kanpur, Nagpur, Surat, Guwahati, and Cochin, which traditionally did not witness major traction on personal care products are buying almost as much as metro cities. Not only trimmers, electric shavers, epilators demand for niche personal care products such as face mist, beard oil, hair tonic, anti-aging creams from high-end brands have all gone up," the statement said. PRS HRS

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