Paytm eyes $3-4 bn GMV by fiscal-end
Mobile commerce firm <g data-gr-id="20">Paytm</g> expects to clock a gross merchandise value (GMV) run rate of $3-4 billion by the end of March next year on the back of strong growth in transactions on its marketplace. The Alibaba-backed company claims to have about 40,000 merchants on board already. “We are witnessing a strong traction on our marketplace. Our business has been scaling rapidly and we are already clocking a gross merchandise value (GMV) run rate of $1.5 billion,” <g data-gr-id="21">Paytm</g> founder and CEO Vijay Shekhar Sharma said. He added that the company expects the GMV run rate to touch $3-4 billion by the end of the fiscal.
Revenue run rate is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time. According to reports, <g data-gr-id="22">Paytm’s</g> rivals Snapdeal and Flipkart are clocking GMV run rates of about $3.5 billion and $4.5 billion, respectively while Amazon is closing in on the $2 billion mark. “We are presently doing up to two million transactions a day and have seen a 10 per cent week-on-week growth in that. While we have 40,000 merchants on board, this number is expected to grow to one lakh by year-end,” he said.