Paytm, an e-cash wallet is looking forward to venture into its new travel and movie ticketing business, segments.
It already had phone recharge, utility bill payment and online retail arms, which has given it a billion-dollar business.
Paytm aims to become one of the 100-billion USD internet companies, which is why it is taking a leap of faith in travel and movie business, to give a neck to neck competition to other already established players in the market.
In an recent interview with ET, Vijay Shekhar Sharma, Founder, Paytm, said that he is aware of the potential challenges in adopting new strategy and added, "The best thing that we can do is capture as many markets, and the dumbest thing we could do is spread ourselves too thin,“ founder Vijay Shekhar Sharma said in a recent interview to ET, insisting that he was aware of the potential challenges in adopting this strategy.
Anil Kumar, CEO of research firm, Red Seer, said that this development, which the company is venturing into, is "to create a holistic ecosystem" for its own rather than getting into new revenue streams.
Kumar said, "Travel booking is already hyper-competitive, but by being part of these transactions they are able to get a good grip on the whole online payments ecosystem."