Without Funding Paytm Can Sustain For Five Years – Vijay Shekhar Sharma
One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd.’s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that’s “predictable.”
“We have enough money in the bank to last 21 quarters if we keep spending at the same rate as last year,” Vijay Shekhar Sharma, chief executive officer (CEO) of One97 that owns Paytm, said in an interview to Bloomberg TV in Hong Kong. “The last term sheet I signed was in 2014. We haven’t raised money since.”
Many Indian startups are running out of cash, while others including Flipkart Online Services Pvt., India’s biggest e-commerce company, have had their valuation marked down. One97, which was founded in 2000 by Sharma, doesn’t plan...