Paytm founder Vijay Share Sharma is from UP.
Vijay Shekhar Sharma, CEO and founder of payment company Paytm, is doing business of crores and billions today. Vijay Shekhar Sharma was born in a middle class family in Aligarh, Uttar Pradesh. His mother was a housewife and father was a school teacher. Vijay Shekhar Sharma studied in Hindi medium till 12th. Later he went to Delhi for graduation where he studied Electronics and Communication from College of Engineering.
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hardworking from the beginning
English was very weak due to Vijay Shekhar Sharma studying in Hindi medium, due to which he had to face a lot of problems during his college days. Meanwhile, he had to face many problems, despite that he was determined that now he will continue to learn English. On the strength of his will, he soon got hold of the English. During his college studies in the year 1997, he had established a website Indiasite.net and sold it for several lakhs within two years. His entrepreneurship journey started from here. After this, he founded one97 Communications in the year 2000, which provided mobile content like news, cricket scores, ringtones, jokes and exam results. It is the parent company of Paytm. This company was started from a small rented room in South Delhi.
Idea got from Delhi market
Vijay Shekhar Sharma told in an interview to The Indian Express that ‘When I lived in Delhi, I used to roam the Sunday markets of Delhi and used to buy old copies of magazines like Fortune and Forbes from there. From the magazine itself, I came to know about the company starting from a garage in Silicon Valley of America. After this he went to study at Stanford University in America. There he came to know that there was no support for startups in India. After coming back he started with his savings. Sharma says, I had to take help from my friends and family members for cash. That money too ran out in a few days. Finally got a loan of Rs.8 lakh at 24% interest. Vijay Shekhar says, one day I met a gentleman and he told me that if you turn my loss-making technology company into profit, then I can invest money in your company. He says, I turned his business into profit and he bought the equity of my company. So I paid off my loan and the car was back on track.
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This is how Paytm started
Vijay started a new company named Paytm in 2001. At that time, the facility of prepaid recharge and DTH recharge was given on Paytm. Then Vijay thought of increasing his company and started focusing on other things and then started the facility of paying electricity bill and gas bill. Paytm gradually started the online transaction facilities like other companies. The company made a big profit after demonetisation in 2016. After this, Paytm got a lot of strength from the government’s Digital India.