One step toward regaining trust is a demystifying of Paytm’s revenue structure, said the founder, who is also the company’s chief executive officer.
And he’ll have his hands full: Paytm’s operating losses widened over the past year to about $350 million, competition is intensifying and investors have lambasted the lack of clarity in the company’s business model. To make matters worse, the war in Ukraine and fears of a global recession further clouded the picture for startups worldwide in 2022.ĭescribing his approach as a rewind-and-reset, Sharma is on a mission to win back investors. Young firms - dozens of which had hit unicorn status as capital flowed to everything from online retail to digital learning in the country of 1.4 billion - suddenly saw their fundraising plans grind to a halt. Paytm’s stock-price collapse exacerbated a crisis for India’s startups, sending valuations plummeting as investors began to grow cautious about their earnings potential. “For me, the public listing was a sort of graduation, and taking Paytm to break-even and to profits gives me a clarity of purpose.” “We’re earnestly chasing the $1 billion goal,” he said during an hours-long conversation last week at Paytm’s new chrome-and-glass headquarters in Noida, outside New Delhi, in a vast green expanse filled with wandering cattle. One97 Communications Ltd., is also shifting its attention from growth toward profitability, Sharma said in his first extensive interview following the high-profile public debut in November.
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