Paytm is considered to be the Avant-grade of cashback business model in India, it has become an undisputed leader in the domain of Mobile payments, E-wallets and E-commerce just to name a few. The inception of the company was done in the year 2010 by a student of Delhi College of Engineering (DTU) Mr. Vijay Shekhar Sharma.
Now PayTM Stands with a company value around $10 billion-$12 billion and created a great market value and India’s most popular mobile payment platform. Let’s explore how Paytm became 1ndia’s most popular mobile payment site and how it Started.
Vijay Shekhar Sharma early life
Vijay Shekhar Sharma is an Indian born on 8 July 1978 in the village of Aligarh, Uttar Pradesh. His Father’s name is Sulom Prakash Sharma and mother’s name is Asha Sharma. He completed his Higher secondary education from a Hindi medium school and later on, he started college at Delhi College of Engineering at the age of 16. He was a very intelligent student from school life but in college, he faced many problems just because he was from a Hindi medium school and not good at English.
In school he used to sit in the First bench so, when he came to college he sat on the first bench but one day teacher asked him a question in English and he didn’t understand the question because he is not good at English that day he felt so sad and the students laughed at him.
After that incident he chose to sit on the last bench and he started to bunk the classes and used to spend much time in the library and he read many success stories and get inspired very much from these success stories and also his English has improved very much. After that, he decided to be his own boss to start his own company. Then he spends his free time on the computer to learn to code.
Starting of one97 communications
In 1997, while he was in college he started the website INDIASITE.NET with one of his friends and later sold it for $1 Million. Then he worked for many small projects and get success with his friend .in 2000 he took one small room for rent in south Delhi with his two friends each friend invested 5 Lakh rupees and started a company named ONE97 COMMUNICATIONS which offers mobile content including news, cricket scores, jokes, ringtones, etc. One97 is the parent company of Paytm which was launched in 2010.
But on 09 November America faced a terrorist attack after that attack One97 business slows down due to lack of Fund . This condition continues for 2 years later Vijay started working for many companies to run their business. when smartphone users in India increased in rapid numbers he got an idea to start an online recharge platform. He launched Paytm.com in 2010 and in very short duration this website get very much popular. Later he added many features like money transfer, mobile wallet, online shopping etc and now Paytm is India’s No. 1 Mobile Payment application.
How paytm brand get success
On 8 November 2016 the startling decision of demonetization by the Prime minister Mr. Narendra Modi. The demonetization opened a new door of success to the company. it helped the company spread its base among the not so educated and digitally aware people like hawkers and street vendors. Many people ridiculed the idea and mocked Mr. Sharma. But those people themselves became laughing stocks when they started seeing the flyers of “Paytm Accepted Here” in every nook and corner of the country. This innovative thinking has helped Paytm to gain 100 Million registered users.
In 2017 Vijay Sekhar Sharma appeared in Forbes world Billionaire’s list, the youngest Indian on the list. Now his Net worth is approximately 270 crores USD. And Now paytm is a well-known company in India and users loving platform.