Innovating India: How Is the Paytm Mini App Store Planning To Take On Google Play Store?
Shreyas Shrinivasan, the head of the Paytm App Mini Store in an interview with ZEE5 talked about Patym’s new venture. In the interview he spoke about how Paytm is planning to take on Google’s Play Store.
The latest episode of Innovating India features Paytm Mini App store head, Shreyas Srinivasan. In the episode, Shreyas talks about how the Paytm Mini App Store is competing with Google Play Store. He also discussed how they launched their store with 400 apps but plan to reach their goal of one million apps this year. Watch this interview below.
During the interview, Shreyas Srinivasan was first asked about how the Paytm Mini App Store will be taking on the global giant Google Play Store. Srinivasan stated that many home-grown companies now have the ability and technological power to take on global giants. He added that apps are ruling the e-commerce and these apps have become central to India’s growth.
He revealed that a single company, like Google App Store, ruling 95% of the market is bad for “innovation” and for India in the long run. Srinivasan revealed that Paytm’s ability to ‘take on Google is not limited by technology’ anymore. It’s more about levelling the “playing field for all”. So the Indian companies get the same level of access as Google app store since the global giant controls the android operating system.
During the interview, Shreyas Srinivasan also answered how their company prepared themselves before their launch in the market. He revealed that he and his team have been working on the store for the past 8 months. It is working on the shoulder of another giant, Paytm, an app that has millions of users across the country. But just like any other start-up, they are living on the edge. Shreyas revealed that each app on the store is a web app. He added innovators can use the app to build their businesses and also distribute.
Shreyas also revealed the challenges they are expecting on this journey. Shreyas Srinivasan informed that one of the biggest challenges is the monopoly by tech giants in the market. But he is happy now there is an active conversation about these companies using their monopoly and eliminating their competition. So a large challenge for the Paytm Mini App Store is to participate in this competition. The other two major challenges, Shreyas revealed, was to make sure that the apps are secure and the consumers get the right experience.
During the interview, the Insider.in head added that a level playing field also includes proper infrastructure will provide more growth to their store. This will also prove beneficial to other companies and help in India’s economic development, he pointed out. Srinivasan also dished out some valuable advice for start-ups planning to take on global giants.
Shreyas Srinivasan’s first advice for new start-ups is to understand the company’s strength and have a keen understanding of what “Indians want”. His second piece of advice was to use the amazing “tech talent” present in the country and build a great team. Finally, he concluded this interview by advising them to “be bold”.
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