The Success Story Of Vijay Shekhar Sharma, Founder of Paytm

School days

Vijay Shekhar born in 1973, in Aligarh, Uttar Pradesh to a schoolteacher from a small city in north India. He was noted for his intelligence and was admitted to Delhi Engineering college while he was 15 years old. Much like other students who came from the Hindi medium, Vijay found it hard to comprehend lectures given by the school teachers in English. In the class whenever he was asked a question, he found it hard to answer. His classmates also used to ridicule him consequently.

He soon lost his enthusiasm for the classes. At that point, he started to invest his energy and time in the library reading and getting inspired by success life stories written in English. In the wake of such inspirational stories of overcoming adversity he realised that he needed to accomplish something significant in his life and that self development is essential. He started to find out about coding in his school classes. Following a couple of days, he and one of his friends together created a site named indiasite.net, which was essentially a search engine. Following two years an American organization purchased their site.

In 1997, while in school, he began the site indiasite.net, and sold it two years after the fact for $1 million. He finished his engineering in Electronics and Communication from Delhi College of Engineering.

One 97- First venture

After the purchase of indiasite.net, for one-year Vijay worked in a few activities to raise adequate reserves to begin his own organization. In the year 2000, he began his own organization named One 97.In 2000, he began one97 Communications which offers portable substance including news, cricket scores, ringtones, jokes and test results. One97 is the parent organization of Paytm, which was dispatched in 2010.

One 97 was utilized for searching individuals. On the off chance that somebody needs to realize who is calling them, the person in question simply needs to message One 97 organization, the organization will replay the message giving the details of the individual who is the owner of that telephone number.

Hard times

He was saving well to run the company so to grow he had to take a loan from the bank. To run his organization, once in a while he needed to apply for a credit even 24% loan fee. The profit he was making for his organization went into paying the bank premium, representative’s pay, and house lease. Even at one time he had insufficient cash to pay his home lease.

He used to return home late around evening time and went out promptly toward the beginning of the day with the goal that the landowner doesn’t get the opportunity to see him. For a long time his budgetary circumstance was deteriorating. Indeed, even in some cases he ate at his friend’s place since he had insufficient cash to purchase food. His monetary condition became so bad that he used to eat from the side of the road. In some cases when he had insufficient money, he used to have two cups of tea as his supper. To run his organization, he needed to be an expert and a coach.

A New Day

Around then, he met Mr. Agarwal. Mr. Agarwal needed assistance to build his company’s software. When Vijay worked on the software, Agarwal’s organization’s profit rose to double. Getting highly impressed by Vijay’s work Mr. Agarwal offered Vijay the post of CEO of his organization. Vijay however did not acknowledge the offer as he had to start his own organisation at any cost. Then again, because of the budgetary emergency, everybody was prompting him to close his organization and settle down with a decent good activity.

On one side, the crumbling business, financial difficulties and the pressure to close the business made Vijay totally push down. Finally he had to acknowledge Agarwal’s proposal with one condition. He proposed that he will manage Mr. Agarwal organization for the half day and rest of the day he is free to manage his own organization. Mr. Agarwal also had to pay him 30k per month. Mr. Agarwal acknowledged his proposition. When Vijay told Mr. Agarwal about his financial debts, he purchased 40% of Vijay’s organization’s offer with 800K rupees.

He saw the potential for the usage of cell phones expanding. He realised that a cell phone related innovation. The idea of a payment app was formed so individuals can do monetary exchange utilizing their cell phone. One 97 organization freely dispatched the versatile application paytm which full structure is “pay through portable”.Inside the time of three years paytm got 25 million wallet clients. Paytm went into the universe of web based business and as of late they have additionally begun their own installment bank.

In 2017, Sharma showed up in Forbes’ World Billionaires List, the most young Indian on the rundown. He says that his inspiration and role model are Alibaba’s Jack Ma and Masayoshi Son of Softbank. Vijay Shekhar Sharma is a basic and a practical individual. His way of life and his organization’s principles are proof of that. Paytm has made a turnover of 814 center rupees. Vijay Shekhar Sharma, the CEO of Paytm has no unique room in his office. He works with his employees in a similar space. Today paytm has become so successful beginning from a little street site shop to huge shopping centers wherever paytm is accepted. Paytm has energized India’s digital revolution and the sole reason for this is the undying spirit of Vijay Shekhar. In August 2018, Warren Buffett’s Berkshire Hathaway invested $300 million in Paytm. Even with such a tight competition, Sharma single handedly carries and navigates Paytm. He is a force to be reckoned with.

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