Paytm has announced the launch of its Bus Ticket Marketplace. It has tied up with four travel aggregators to get almost all bus routes on its system, and claims to have achieved 100% growth since launch.
The inception of the marketplace is a part of Paytm’s overall strategy to enter new categories including travel to grow its gross merchandise value to $3-4 billion by the end of 2015 (fyi: Paytm shutdown its grocery business a few weeks after the launch).
“The online travel category in India was estimated to be worth over $8 billion in 2014. We want to tap into this potential to give an enhanced experience to our users while booking their bus tickets. Going forward, we also plan to start signing up hotels and travel agents on the platform.” Vijay Shekhar Sharma – Founder,Paytm
Paytm is building a digital commerce business of new categories to achieve significant scale by entering newer categories to grow its gross merchandise value run rate, or the total amount of goods sold on the platform, to $3-4 billion by the end of 2015.
Qn : Apart from being an aggregator/marketplace, what else is Paytm bringing to the table (for the industry at large)? Do they have any skin in the game?