India’s most valued startup at over $10 billion, Paytm, has begun talking of improving margins as loss-making private internet companies across the world come under pressure after office-sharing startup WeWork’s failed public offering.
Paytm CEO Vijay Shekhar Sharma told that the company will bring down its EBITDA (earnings before interest, taxes, debt, and amortisation) losses by at least a third to $350-400 million (Rs 2,470-2,823 crore) in this financial year. The mobile payments and commerce major’s EBITDA losses had tripled to $600 million (Rs 4,218 crore) in FY19.