There comes a moment in every company’s life when it straddles the chasm of what it was, and what it could be. The right steps put it into a position of unassailable strength none of its rivals can challenge. While the wrong ones, well, end up serving as case-studies later on of how small missteps can derail even seemingly unstoppable momentum.
Paytm’s moment started on around 9 p.m on November 8 when PM Narendra Modi announced that Rs 500 and Rs 1000 notes would soon cease to be valid tender. “Demonetization”, though a wrong phrase to describe the government’s move to replace roughly 86% of the country’s currency notes with a newer set, was Paytm’s chasm.