In this article, you will know about the inspiring Biography of Paytm founder Vijay Shekhar Sharma. Passion and courage are some of the words that the founder of Paytm. Vijay Shekhar Sharma’s personality can be defined. Setting up a company like Paytm was not easy. Not knowing how many difficult struggles, he won the success of the name Paytm. Let’s know:
Early life Of Vijay Shekhar Sharma
Vijay Shekhar Sharma was from a middle-class family. His mother was a housewife and his father was a very honest school teacher, who also considered teaching tuition immoral. Even though Vijay may not have had the convenience of rich homes, he certainly inherited the rites of his parents.
Vijay’s early education was not in an expensive convent school but in a simple Hindi medium school in Vijaygarh. Meritorious Vijay always came first in his class in studies and on the basis of his merit, he passed the class 12th examination in just 14 years.
Had to go out of Aligarh for further studies. Vijay took admission to Delhi College of Engineering. Admission was received but the road ahead was not easy. From the beginning, his English was very weak due to studying through the Hindi medium, and due to this, he faced many problems in college.
Vijay, who was the topper of the school, was able to pass the papers of Engineering with great difficulty, and all this was happening just because he did not know English. Vijay started getting frustrated, he started bunk classes… Many times the idea of returning home also came to his mind… but he stayed… Vijay decided that he will control English first…
After this, he brought old books and magazines from the market and started learning English with the help of his friends. For this he also adopted a unique method, he would buy both Hindi and English versions of the same book and read both parallels.
Man’s biggest asset is his willpower and Vijay Shekhar Sharma’s most important asset is his will power, on which he does not back down from doing anything and doing nothing. With his hard work, he soon caught on to English.
Vijay Shekhar Sharma’s interest in business
Vijay used to have a lot of time due to not doing engineering classes, at this time Vijay wanted to do something big in the Internet field, inspired by Yahoo founder Sabeer Bhatiya, and since Yahoo was built in Stanford College Campus, he was there Wanted to go and study as well….But due to his financial condition and lack of English knowledge, it was not possible for him…. But one thing was possible… Following some of the geniuses of Vijay Stanford can learn coding by themselves. Were.
And he did the same, he learned coding after reading from books and designed a content management system of his own, which later started using all the big newspapers including The Indian Express.
XS company start
After this, he started a company named XS in the 3rd year of college with a friend. His business model was liked by many people. In 1999, Vijay Shekhar sold XS to Lotus Interworks of the USA for $ 5,00,000. And he started working as an employee in this company. But Shekhar Sharma did not like to do the job of others and soon left the job. But how did Shekhar, who had tasted business, sit empty, his mind immediately started searching for new business ideas and after that he did-
Installation of one97
After leaving the job, he started a company called One97 in 2001. Shekhar invested all his deposits in this company, but due to the dot com bust, this company did not run in Rs. Business failure breaks humans morally and financially. Shekhar also faced financial difficulties.
In this difficult time, both of their partners also left One97. Vijay moved to a cheaper hostel near the Kashmiri Gate in New Delhi. There was a time when they used to walk on their own floor to save money, sometimes they used to spend the whole day on only two cups of tea.
But it says
Those who try are not defeated….Vijay Ji’s efforts also started paying off and his company providing innovative services to GSM and CDMA mobile operators slowly started to return to track and started making profits.
Setting up of Paytm (Payment Through Mobile):
Vijay Shekhar Sharma specializes in catching the pulse of time. Smartphones were becoming very popular in the market and from here the idea of cashless transactions came to his mind. He proposed to enter the payment ecosystem in front of One97’s board. But since it was a non-existent market and the company was already doing well, no one was willing to take this risk.
In such a situation, Vijay could have started a separate company with his idea, but he did not do so. He said that –
Had there been another entrepreneur, he would have started his own company by selling his equity. But I want to build a 100-year-old company. I believe that men and boys are different because the boys sell the company in a jiffy. Men run the company and build a legacy.
Vijay set aside 1% of his personal equity, about $ 2 Mn for his new idea, and in 2001 founded Paytm.com. In the initial stages, it was serving as DTH recharge and prepaid mobile recharge. Then Paytm slowly started increasing its services. First electricity bill, gas bill payment facility and then Paytm started selling goods like other e-commerce companies. And the recent note ban worked as a lottery for PayTM and by the time PayTM became a necessity for crores of people.
At present, Paytm is providing prepaid mobile recharge, data card recharge, postpaid mobile recharge, bill payment, etc. in all states of India. Today Paytm is the most popular online payment site in India and its total business has reached close to Rs 15,000 crore.
Economic Times selected Vijay Shekhar Sharma as “India’s’s Hottest Business Leader under 40”. Vijay Shekhar Sharma is ideal for every Indian who wants to be something through their hard work because this is the story of a man who dreamed of a million-dollar company when he did not even have 10 rupees to eat in his pocket.
We would like to end his inspirational story with his words –
There is no fun in doing what others ask you to do, the real fun is in doing what people say you cannot do!
As an entrepreneur, we can learn so many things from the Biography of Paytm founder Vijay Shekhar Sharma. We hope you have found this biography helpful and useful. Please share this article with your friends and social media platforms. If you have any questions and suggestions you can write in the comment section.