Indian Entrepreneur: Vijay Shekhar Sharma is the founder of “Paytm”, and he is one of big Indian Entrepreneur.
Well, I don’t think that I need to write something about “Paytm”. Everyone in India has become familiar to “Paytm”. It is continuously being used every day by every user to make transactions.
In the initial Vijay Shekhar Sharma launched the Paytm as a mobile wallet application through which you could send and receive money through various methods which include up to the system, QR code, directly to someone’s number. But seeing its popularity launched it’s another product known with the name “Paytm Mall”. It is an e-commerce application through which you can buy goods.
After the launch of Paytm Mall, they launched their own small Paytm payment banks. With the help of Paytm payment banks, it offers you to send money without any third-party charges, it also allows you to send money through IMPS, BHIM UPI, NEFT and many more services are being given by Paytm to its users.
Now Paytm has become one of the perfect e-commerce applications that offer you to buy good and services. It is giving tough competition to the e-commerce sites like “Flipkart”, “Amazon”, “Snapdeal”. Because Paytm offers you a good discount people are getting attracted to it.
Let us know about the founder of Paytm Vijay Shekhar Sharma who has become one of the youngest billionaires.
Early Life and Journey
Vijay Shekhar Sharma was born in a small town of Uttar Pradesh name Aligarh. Vijay Shekhar Sharma belongs from a middle-class family.
He started his schooling in the local “Secondary school”. He was one of the exceptional and excellent students. Vijay passed out from his school at the age of 14. This was the point from where the journey of the young boy towards his goals, aims and success started.
He went to Delhi to pursue his education. In Delhi, he took admission in the “Delhi College Of Engineering”. During his engineering, he used to make many projects.
One of his projects came out as an earning point for him. During his engineering in Delhi, unaware of the fact that one day he’ll be able to achieve the award for the youngest billionaire, he made a site name indiasite.net.
For running that site for almost 2 years he thought of selling it. Finally, he sold his site at 1 million dollars. It was the first point in his life where he earned 1 million. From there, his talent took speed and made him the youngest billionaire.
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Actually, he became a millionaire at an early age which is really amazing. It was the beginning of his success and was his first step towards his success.
Vijay Shekhar Sharma, born in a small town Aligarh of Uttar Pradesh. He was fond of reading books and magazines about technology.
Since he belonged to a middle-class family, his financial conditions never allowed him to buy new books. Because of the poor conditions he used to buy the used or second-hand magazines from the shopkeepers.
So, therefore, there was a time once when he used to chase the magazines and now publishers are chasing him for an interview with him for their magazines.
Vijay Shekhar Sharma’s name comes on the top list of India’s Billionaire Entrepreneurs. In 2017, Forbes declared him as India’s youngest billionaire by having a net worth of around 1.3 billion dollars. Since that time Vijay Shekhar Sharma has managed himself to stay on the top of the list of Indian’s Billionaire Entrepreneurs.
Before the launch of Paytm, Vijay Shekhar Sharma used to manage a network name One97 Communication. With this network, many people were connected and the goal of the network was to provide the information like results of various exams, jokes and entertainment stuff, ringtones for mobiles, cricket scores and news. This network was being launched in the year 2000.
This network is also known as the parent company of his currently ongoing application called Paytm. Paytm got introduced in the year 2010. Not only Paytm is being used nowadays but also he introduced many services and products to us like “Paytm mall” and “Paytm payment banks”.
There was a time when he was facing criticism for keeping the logo of his network as same as that of Paypal. Paypal’s owner filed a case against Sharma for keeping the logo similar to the logo of Paypal.
Ignoring all the criticisms he still managed himself to stay on the top of the list
- In 2015 December, he also criticized Facebook for the concept of Free Basics in India. Later on, everything got settled down.
- In the year 2017, Vijay Shekhar Sharma appeared in the list created by Forbes for World’s Billionaire. He ranked 1567 and with this rank, he finally became India’s youngest billionaire to appear on the list.
Awards and Achievements
- In the year of 2015, He received an award for “The CEO of the Year 2015” in the awards organized by SABRE Awards.
- He received an award for “The Entrepreneur of the Year 2016” by “The Economic Times” in 2016.
- Vijay Shekhar Sharma received an award for “The Impact Person of the Year 2016” by the group “The Exchange4media Group” in 2016.
- In the year of 2016, he completed and received his degree for “Doctorate of Sciences (D.Sc.)” from “Amity University Gurgaon”.
- In the year of 2017, His name was ranked in the magazine by “India Today”. His name was ranked on the 18th position in India’s list of 50 Powerful People.
- In the year of 2017, His name appeared in the list of “50 Influential Young Age Indians 2017” by “GQ India”.
In the year of 2017, He received an award for “Youngest Billionaire of India” by “The Forbes”.
Here we are presenting you with his short life story from a small-town boy to a successful entrepreneur.
Vijay Shekhar Sharma learned English after getting admission into IIT
When he got admission in IIT. He was not that expert in English as we all Indians are grown up using our mother tongue that is Hindi or Punjabi or some other language.
It is why he was also used to scared of English. Because his English was not that good he couldn’t appear in the entrance exam for IIT and other competitive exams.
But somehow he got admission in IIT and still that life was not easy for him. He was facing troubles because of his poor proficiency in English. Then he decided to learn English and do something different.
He used to buy two different language books of his course material. Firstly he used to read his course from the Hindi book and after that, he used to switch to an English book to read the same material he read in Hindi.
It means he used to simultaneously read two different language books to understand the course. This is the way he worked on himself to learn English.
From being a topper in his school times he became a Back-Benchers in his college
Vijay Shekhar Sharma completed his college “Delhi College of Engineering” in the age of 19. He was used to be a topper in his school times, but during his college time, he became bank bencher. Because his English was not that good he started sitting back on the benches.
Sometimes he used to bunk some of his lectures in which he used to understand hardly what was being taught in the classroom. Poor proficiency in English led him to go outside of the classroom either on the campus or computer room.
There he used to spend time surfing the internet or dreaming big. This is how “From being a topper in his school times he became a back-bencher in his college”.
Being a student started his own career
During the placement process each and every fellow student was excited about being appeared in the placement process.
Everyone was excited about getting placed in a Multi-National Company. But at the same time, Vijay was not hungry for getting a job in an MNC. He built his own first company with the name “XS Communications”. It was a content-based company.
This company used to manage the content. Slowly-slowly he started working on the computer languages to learn the coding and programming.
Vijay learned all the programming and coding himself by taking help from books and the internet. Soon he became an expert in it and designed a system name Content Management System.
Many huge publications became a part of it like “The Indian Express” and many more. This is how his life took a new turn towards success.
Vijay Shekhar Sharma Faced with huge debt
To set up one of his networks “One97” he took a loan of almost 8 lakhs on the principal amount of 24% interest.
Because of some situations, he was unable to pay back to the bank. But still, he never thinks to quit, he started doing the small jobs like delivering the lectures and setting the LAN connections. This is how he used to work hard when his life was facing troubles.
PAYTM – An idea that changed the entire life of this entrepreneur
In 2010, India’s infrastructure regarding the telecom was improving. Vijay asked his investors to invest money in his project which was about the mobile consumer service – Paytm.
Investors were not clear about his idea and to invest money in his project. Then he personal invested 2 million dollars in his project and launched it. The rest is the history which is known to everyone.
Thank you for Reading. we also write some other Entrepreneur and Successful Person Like Indian Youngest Entrepreneur Ritesh Agarwal, Most Popular Motivational Speaker Sandeep Maheshwari, Number One Blogger Harsh Agarwal. If you Like Case Study than we write Nokia Case Study.
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