Entrepreneur Story of the month

We are lucky enough to be a part of digital India. In the current era carrying physical cash has become irrelevant as we have convenient digitized options for money transfer. In this field, the stepping stone of digitized/cashless India was laid by Mr. Vijay Shekhar Sharma through Paytm.

Mr. Vijay Shekhar Sharma (Vijay) was born on 8th July 1978 in a small town in Aligarh, (Uttar Pradesh). His father was a school teacher and his mother was a housewife. He studied in Hindi medium school, and his life was full of challenges. Vijay was exceptionally outstanding in his studies, but his English was very poor. Vijay initially considered it as the biggest hurdle in his growth but to overcome this he took the help of his friends, went to libraries to study books and magazines for hours. He took interest in computers and opted for B. Tech in Electronics and Communication from Delhi College of Engineering (DTU).

Vijay always dreamt of working with computers at Silicon Valley. He learned software coding all on his own. In 1997 while in college, he started the website Indiasite.net and sold it later after 2 yrs. for $1 million. After graduating from college he joined an MNC. Despite a good earning he left the company after 6 months to do something innovative of his own.

In 2000 he started one97 communications that offer mobile content including news, cricket scores, ringtones and exam results. In 2005 he had to face a very tough time as he had a hefty loan of about 8 lakhs on him. Slowly things turned smooth and in 2010 August, he launched Paytm, with an initial investment of $2million in Noida. Paytm is Indian e-commerce Paytm system, and became a product of 0ne97 communication and a product that has changed the face value of the company, which once hit over 440 million registered users and 20 million transactions daily.

In 2015 Paytm became a licensed Paytm bank after getting permission from RBI.

In March 2018 Paytm became the umpiring partner of IPL for 5 yrs. On November 25, 2019, Paytm raised $1 billion in a funding round led by US asset manager T Rowe Price along with existing investors Ant Financial and Softbank Vision Fund. At present Paytm is available in 11 Indian languages and offers online use-cases like mobile charges, utility bill payments, travel, movies, event bookings, and as well as Paytm wallet services. Paytm employs over 13000 employees and has more than 3 million merchants across India. Paytm net worth $2.1 billion as of 2018.Although they faced some losses these ups and downs are part of the business it doesn’t affect its flow.

Vijay net worth $240 crores. India Today Magazines placed him at #18 on ‘’India’s most powerful people of 2017’’ list. He was in the list of ‘’Time ‘s 100 most influential people in the world’’.

Without having meals for days and surviving on a cup of tea and biscuits Vijay has proved that anything and everything can be achieved with determination and hard work. He always believes that if one has a dream, then one must work on it and face the challenges head-on to achieve great success.