Paytm Mall cuts functions from One97; to be led by Vijay Shekhar

Noida-based fintech giant Paytm's e-commerce arm Paytm Mall has separated all functions from its parent firm One97 Communications. The new entity will also be led by Paytm Founder and CEO Vijay Shekhar Sharma. Last valued at over $3 billion with eBay picking up a 5.5% stake, Paytm Mall recently adopted a hyperlocal business model and is shutting down its warehouses.