Paytm Hives off E-commerce Business into Separate Entity

Mobile wallet giant Paytm has separated its e-commerce business and payments bank into two separate entities, as the company believes both the businesses have different growth cycles and can be independent of each other.

Paytm E-commerce Private Limited was set up on August 16 and lists founder Vijay Shekhar Sharma as the majority shareholder in the firm.

The move is seen as a response to the company’s key investor Alibaba’s proposed plans to enter India’s e-commerce space.

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Written by Shaik Zakeer Hussain

Shaik Zakeer Hussain is a former Sr. Correspondent at NextBigWhat. You can get in touch with him here: linkedin.com/in/shaikzakeerhussain or follow him here: twitter.com/zaknetic.