Paytm is India’s one of many quickest rising and highest valued firms. The service which launched again in 2010 as only a cell recharge and invoice funds app now presents a plethora of providers together with its personal e-commerce platform, films, flights, and bus ticket reserving, digital gold, and extra.
Yesterday, the corporate proudly introduced that its app on the Google Play Retailer has surpassed a 100 million downloads. That’s an enormous achievement for Paytm as it’s India’s first cost app to take action. In keeping with a weblog submit revealed on the corporate’s official weblog, Paytm achieved this milestone within the second week of December.
Deepak Abbot who’s the Senior Vice President at Paytm mentioned,
“We’re overwhelmed with the 100 million downloads mark, reaching this milestone is an affidavit to the efforts of the unimaginable group at Paytm. This achievement will supply us a robust enhance as we work in the direction of our objective of constructing India a digital-first financial system.”
It actually is a big achievement for the corporate as reaching a 100 million downloads isn’t any small feat. The corporate was capable of obtain this milestone because it seamlessly remodeled itself from only a cost utility to a service supplier the place a person can get probably the most issues completed underneath a single roof.
After I consider Paytm, the one firm it resembles when it comes to the plethora of service it gives is China’s Alibaba. It solely appears becoming as Alibaba’s Ant monetary is likely one of the greatest traders in One97 Communications, the mother or father firm of Paytm. The funding from Alibaba not solely appeared to have solved Paytm’s monetary woes, however the firm has benefited from the experience and know-how of Alibaba’s expertise within the monetary sector in China.
Paytm additionally had the advantage of rising within the environment the place the Indian authorities is actively pushing for the digital financial system. Paytm was one of many greatest beneficiaries of nation’s demonetization program because it started a marketing campaign in a single day to get customers to pay for issues, even at their native shops or hawkers at markets, by tying with a plethora of distributors.
That mentioned, regardless of the causes are, Paytm actually deserves a commendation for being ready to make the most of optimistic circumstances and rising to a spot the place it’s now.
