Paytm Mall must shut down
Paytm might not want to give up on e-commerce, but now would be a good time for it to stop throwing good money after bad.
Saif Iqbal
Saif Iqbal
02 December 2019
You can always update your display preferences in Settings menu

Last week Paytm raised $1 billion. Most of the company’s businesses will see some of that money. Competition is tough in almost every segment the company operates in, from payments to travel to mutual funds. But there’s one that’s unlikely to get any love—e-commerce. 

In today’s story we will take an objective look at what went wrong at Paytm Mall. But more importantly, if anything can be retrieved from an edifice built layer upon incongruent layer of arrogance, confusion and piles of investor money, one that has collapsed and been resurrected multiple times.

Fasten your seatbelt.

The old rabbit hole

The king of e-commerce in India is the mobile phones category. It’s how Flipkart and later Amazon India got first-time buyers on board in a big way, and still accounts for the biggest chunk of online sales. Unsurprisingly, that’s also where Paytm Mall started.

What our readers say
Why subscribers love The Morning Context
Research ideas don't come from a vacuum. The best ideas come from a spark, a contrarian take, an uncommon investigative insight, and one doesn't always get these from traditional media. TMC consistently makes me think about things in different ways, and I've frequently shared TMC articles with collaborators and students. Staying at the cutting edge is hard enough; TMC makes it much easier.
Rohit Chandra, Assistant Professor - School of Public Policy (IIT Delhi)
High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.
Abhay Pandey, Managing partner, A91 Capital
Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.
Anupam Gupta, Investment research consultant
In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.
Jessie Paul, CEO, Paul Writer
The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.
Miten Sampat, Angel investor & former CSO, Times Internet
In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.
N S Parthasarthy, Co-founder, Mindtree
In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.
Nikhil Taneja, Co-founder and CEO, Yuvaa
Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.
Shiladitya Bora, Producer, distributor and founder at Platoon One Films
As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.
Amarjit Batra, Managing director, Spotify India
Become a TMC member
Sign up now and get access to our starter collection for free.