Internet

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.

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.

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Saif Iqbal worked at Snapdeal from 2014 to 2016 and the e-commerce division of LG Electronics from 2016 to 2018.

Cover image by Markus Spiske on Unsplash.

Illustrations by Swati Addanki.

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