Indian startups are a dime a dozen. What makes one uber-successful and become the most well-known and widely used?
A man called Vijay Shekhar Sharma holding the reins. The founder of Paytm is now worth over $999 million and is a Forbes Billionaire. How did he get there?
Early Years
Born in 1978 at Aligarh, little did this genius know he would become one of the most adored technopreneurs and CEOs of today. Although he studied in a Hindi-medium school, he understood the importance of being fluent in English.
He transmuted his weakness into strength and began to learn English from old books, magazines, and articles from friends. He was unshakable in his quest for perfection very early on.
First Leap Of Faith Into Entrepreneurship
Vijay Shekhar Sharma was deeply inspired by Yahoo’s business model and wanted to study at Stanford, where it was founded. His financial standing at the time would not allow him to make that dream come true. So he dreamt of another one by establishing a content management company with his friends called XS Communications that would help create search engines in India.
The silicon-valley bug had bitten him, and nothing could stop him now. He received a loan of 8 lakhs but paying it off took years of struggle and he later sold XS Communications in 1999 for $1 million.
Now with a prestigious degree from the Delhi Institute of Technology, he later founded One97- the parent company of Paytm. It was an online directory for people via SMS. No matter the challenge, he always stepped up. Vijay says, “If you’re up against the big guy, ignore the big guy.” This quote perfectly sums up Vijay Sharma’s success story in a sentence.
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The Paytm Uprising
Vijay’s father could not secure a loan despite having an outstanding credit score. He was inspired by this circumstance and created Paytm to help economically weaker sections of the society.
He raised the $2 million he needed for Paytm by himself and a little friend he likes to call determination. Paytm now holds the status of 58 million customers and is rising as the best e-wallets in the country. The Paytm Payments Bank is now the first to allow a zero-balance account feature.
Vijay says, “Mobile is the first hi-tech mass personal medium. But more than the device, the app is pure magic.”
Fearless Pursuit of Excellence
Vijay Sharma’s success story is one to remember as he is one of the most diverse human beings with a passion for rock music, singing, and setting the stage on fire. He has been true to himself and those around him all of his life, which takes courage and raw magnetism.
Vijay was recently awarded the Yash Bharati award and is the primary example of the power of being a vulnerable technopreneur with a larger vision for the upliftment of society.
Only when one is sensitive to hardship can he bring about a significant change for himself and the world.
