Paytm Founder Vijay Shekhar and their struggle (2020)

paytm founder vijay shekhar

Paytm Founder Vijay Shekhar Sharma-

A little guy from Aligarh who used to have communication issues to a person who made his name in Forbes. Vijay Shekhar Sharma has achieved success.

Vijay Shekhar was a brilliant student from a tender age, passing secondary school at the age of 14. Well, this was one of the many successes for the young boy.

  • Vijay English proficiency became a hindrance to be in IIT: His not so good command in English language, Vijay couldn’t appear for the IIT entrance and other competitive exams. When he took admission in his college, he used to simultaneously read two books — one in Hindi, the other in English to grasp the whole subject and to learn English.  

2. Been a topper in school and also a back-bencher in college: Vijay Shekhar did his degree from Delhi College of Engineering at age of 19. His English issues became a big deal when it came to understanding the lectures and this thing led to staying in the computer room most of the time, browsing the internet and weaving dreams about being in Silicon Valley and seeing himself in the list of Forbes.

3. XS Communication: When Vijay young and bright engineering batchmates were cheered up about the zeal of being placed, Vijay established his first company – ‘XS Communications’, a college-based startup that designed Content Management Systems. Later, he had learned to code all by himself and had designed a Content Management System used by major publications including Indian Express. And later, in 1999 he sold his company to USA company Lotus interwork in 5,00,000 lakh $.

4. Took Great Risk: In order to set up One97, he got stuck in a loan of Rs. 8 lakhs. A big price for a common man back in the days, with a solid 24% interest, which got him in the never-ending cycle of debt. Forced him to go for under-qualified jobs to survive, setting wifi connections, delivering guest lectures and similar. 

5. Paytm — All or nothing: While India’s telecom infrastructure took up in 2010, Vijay’s investors were not so sure about his idea of a mobile-first consumer service that would cater to the masses. He himself put his 1% stake from one97 approach $2 Mn at stake to finally start the brand. The rest is a success story. For more please read the story of Paytm and their histories.

Lesser known facts about the man behind the

He loves music: VSS loves music especially when he is driving in foreign, he said Delhi is not the right place for driving but absolutely enjoy this in foreign with good conversation and friends.

On being asked what you would be if you were not entrepreneur, he replied “nomad” maybe. 

Traveling:  This is used as a favorite team-building activity. “We go to a country where we don’t know the culture and the language, and the team has to discover a way to connect and talk together. But with one exception that is we don’t stay in a country for more than a night”

He is vegetarian: Vijay is pure vegetarian and loves to eat chat and in one interview he said I love to create my own flavors and food, has great food sense food speaks to him and fluent in that language. 

Paytm journey so far

  1. In 2015, Paytm Founder Vijay Shekhar got its license from the Reserved Bank of India and start India first payment bank.
  2. Demonetization helps the Paytm to boost and get a whooping of 750%.

3. Vijay Shekhar‘s biggest inspirations are Alibaba founder jack maa and Softbank Founder Masayoshison and both are the investors of Paytm.

4. Vijay Sharma ranks the lists of ‘India 50 most powerful people of 2017‘ at 18 positions.

  • Digital payments giant said they raised $ 1 billion from around conducted by US asset manager T Rowe Price with existing investors Ant Financial and SoftBank Vision Fund also participating, according to the sources. 
  • It is the biggest amount raised in 2019 by a startup. The company announced its value is approximately $16 billion. 
  • Vijay disclosed that SoftBank has pumped in $200 million, Ant Financial has invested $400 million at a $16 billion valuation.” Making investment raised by the Paytm to around $3.5 billion.  
  • Paytm CEO has said affirmably that he is not afraid of the competition and threats from the rival. He said Google pay, phonepe and Amazon pay are very new in the market and they have the largest coverage in the Indian market and it’s growing every day. Paytm is not nervous about the business rather they are solid with an approach and going to invest Rs 10,000 crore to make customers and merchants in smaller towns, and online merchants, this strategy going to penetrate Paytm deeper and will give good grip in the Indian market. 
  •  The tech giant has raised $300 million from  Warren Buffett’s Berkshire Hathaway back year in September 2018.

According to news, Paytm’s major investors such as Softbank has stipulated some conditions this Japanese group has said the company shall go public within five years from the time of completion of the transaction refers to the fund raised by Paytm. In case of failing to do so, SoftBank will have the right to sell its stake to a rival company, according to trustable sources. SoftBank, which first invested in the Paytm back in 2017, holds a considerable share of 19% stake notably the Alibaba Group, through Ant Financial and directly has 38% in Paytm.

However, One97 Communications showed Rs 3,959.6 crore net loss in FY19 against Rs 1,490 crore in FY 18, according to details the Paytm displayed with investors. Its standalone revenue hiked little to Rs 3,319 crore from Rs 3,229 crore in FY18. The losses Paytm competitors reported are Phone-Pe’s losses amounted to Rs 1,904.72 crore with revenue from operations at Rs 184 crore and Amazon Pay reported a loss of Rs 1,160.8 crore for FY19. For Paytm payment bank and any other inquiry follow this link.

Vijay Shekhar’s personal life:

  1. VIJAY SHEKHAR SHARMA parents – Sulom Prakash Sharma
    Father and Asha Sharma
  2. Married to Mridula Sharma since 2005
  3. Having one kid Vivaan Sharma. 

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