With Vijay bhai, there's a customary selfie which we take. So before the show, we will take the selfie.
Thank you. Actually, so I will tell you what happened. Before the anchor's question, I started my answer. No, Nick, let me tell you. The era of selfies came, and I couldn't understand whether people were taking my photo or I was taking it with them. Because a lot of times I used to be really joyous that someone I honor so much is with me, so I point because he is the hero.
So thank you. The hero is sitting right in front.
Yes. And in fact, when the smartphone generation is ending now in the world, more or less the smartphone plateau, the biggest pop of smartphone that changed the world is actually FaceTime. You will say why? Because for FaceTime, Steve Jobs put a front camera. Otherwise, Nokia, all had back cameras. So for FaceTime, the front camera came. From that, people took self-photos, and the whole world went into selfies. Whether Modi ji meets Musk or Trump meets someone, now everyone takes selfies. So in my view, FaceTime is the app of smartphone that impacted most in the world.
Now everyone in this room, I can vouch for, has used Paytm. Some or other, please raise your hands those not used. Not used? See, not even one. That is the power of a brand called Paytm. And in India, and frankly, last 15 years, very few brands have created that.
Until it finishes you. What doesn't kill you makes you strong. A philosophy tells me that there is genuinely a lesson of future resilience and future opportunity that hides behind so-called bad news. And I can say that there was a lot of lesson to learn, and there was an obligation to learn. In fact, I will say one more thing. If we don't learn the lessons we learned in the past year, perhaps we won't achieve the ambition we have, the very big ambition to become a $100 billion company, a global company from India. So in a quite uncomfortable way, I can even also say that was a nice thing that I got a lesson which made me survive and learn. So better to learn, and better late than never, and better that it happened at this early stage.
So this is the first time anyone is interacting with you on this large forum after all these regulatory problems have happened. So this is the first big interview after the regulatory problems. So in simple terms, can we assume the regulatory problems we had happened are they openly discussed on all the forums? Are they over? And it's still work in progress?
I am very hopeful that they are concluded. But at the same time, the direction and path and the things have to be done. How did you manage to wave that problem period? What changes you made?
Paytm Bank delivered the pain. If I was ready to accept there is something inside it which is going to... which is something that we have to correct. I have to correct, we have to. And I am owning up that was the first and biggest lesson of the time. It included that number one, we were doing too many things. We were mixing up few things versus many, many things which were not coherent and so on. So we pruned, cut, and made money in a way by exiting many of the businesses and sorting out that I want to go back to the focus, go back to the fundamentals, and keep at it till the time period.
We are not just big, but a very big as an industry player and a sizable player. Obviously, in this kind of movement, we lost some of the market share. We lost some of the, let's say, customer, consumer love that we could have and we were expecting to gain. But at the same point of time, I said the earning back, the winning back will be the success of it. And the success will be that we are back with a number and market share which is good for us to have in the long term. So more or less, I'd say the lesson learned was that the regulatory businesses are complying first. Businesses we should and we better take care of that. And the big and second lesson was that you have to have an organization where the compliance officer is not a separate person. The business person speaks a compliance language. So I upgraded our governance, I upgraded our compliance, I made the organization understand that it is compliance first. All the businesses that were so-called not compliance requirement, like commerce, like many other things, we sort of said that, you know, let's not mix it. Organization has one culture.
And there was another business which was events, which we sold to Zomato. Am I describing?
Sort of incentive plan that we saw the government announce that there is an MDR that is coming. So that will be a big boost to the payment. And payment inherently can become profitable, I think, if we go towards that path. So payment is critical, profitable by standalone scale.
How many million people do we have? We believe we can serve 200-250 million people in this country who will use our platform. I want more than market share, I want those 250 million good quality people on my platform. And I can say that we are privileged that we continue to have them on our platform because let's say even if something happened, it did not happen of the good quality customer. So first of all, payment is big. Credit is like you said, distribution of credit. We are recalibrating. We have added FLDG. So fourth will remain one of the key drivers of profit. And at this stage, it continues. And what we are not focused on after wealth, I don't have to say India's stock market is inviting many, many domestic investors. And this is pride of India. I rather say after some days it will be very clear that after payment revolution in India, the pride of India will be the number of demat accounts and the amount of effort that happened in wealth space. So to say mutual funds, insurance, and many other things, we would primarily keep them as business as usual. We will not put effort on it. Payment, credit, wealth, that's my next two-year plan.
You went public in the DRHP which you applied to the SEBI. I'm breaking it for you. You said we don't know when we will make money. We don't know when we would be profitable. Now you're saying that we are committed to work on the path of profitability. So when will you declare profits?
