- From being a small-town boy from Aligarh who bought second-hand tech magazines to the founder of one of India’s most trusted technology brands, Vijay Shekhar Sharma has come a long way.
- He was the third child born in Aligarh, Uttar Pradesh’s Lower Middle Class Family.Father was a teacher and mother was House Wife and family had two elder sisters and one younger brother.
- He used to read my sister’s Sanskrit books. That’s why got double promotion in school and passed 12th class at the age of 14 at the young age and went to Delhi for further studies.
- He had a small dream of becoming an engineer and working on a salary of Rs 10,000 in a company. Under this purpose, took the admission in Delhi College of Engineering for engineering studies.
- Owing to his poor English proficiency, Vijay couldn’t sit for the IIT entrance and other competitive exams. Later in college, he had to simultaneously read two books — one in Hindi, the other in English to understand the course material.
- Vijay passed out of Delhi College of Engineering at an early age of 19. His English proficiency meant he could hardly understand what was taught in class. This led him to spend a lot of time in the Computer Room, browsing the internet and dreaming about being in Silicon Valley, the mecca for worldwide innovation.
- While most of young and bright engineering graduates were excited about the prospect of being placed, Vijay had built his first company- ‘XS Communications’, a college-based startup that created Content Management Systems. By then, he had learnt to code all by himself and had designed a Content Management System that was being used by several major publications including The Indian Express.
- Just two years later, American company Lotus Interworks bought Indiasite.net for $ 1 million. And with this money he bought a Color TV, because there was no TV in family so far.
- In 2001, he along with my two friends, rented a room from a small dirty house in south Delhi and built a company named “One 97” by placing Rs 5-5 lakh per friend, which would allow mobile users to send mobile content such as news, SMS , Ringtones and jokes.
- But he wanted to give SMS based services that are not available in SMS format so far.
- But due to the terrorist attacks on America in 9/11, the business became quite slow and soon the company’s funds were over. This disappointed partner also ran away.
- This situation continued for two years. In the days of the struggle of 2003-04, other jobs such as Lecturer, Computer Teaching were trying to revive their company’s fund position.
- In 2007-08, the turnover of the company touched 11 crore and within the next four years, the turnover increased 20 times to 220 crore. All this was due to the progress of the telecom sector and the rapidly growing number of customers.
- In the same sequence, 3G hit the world in 2010. With this, it has affected the entire telecom sector. Everyone was trying to change to suit this technology.
- We and our team started trying to connect this technology to smartphones and mobile internet, and working on mobile business methods found Paytm (Mobile Wallet) in the same year so that online payment can be made easier.
- After this my life became quite busy I started to start from 6 am in the morning. All of the things related to Branding, Technologies, Product and Customer of Paytm were handled by itself.
- Today, 78 million Orders come in Paytm. With this, Paytm has 10 million subscribers and 35 million regular users per month. All this is the result of team’s hard work.
- Paytm is available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.
- As of January 2018, Paytm is valued at $10 billion.As per the company, over 7 million merchants across India use this QR code to accept payments directly into their bank account.The company also uses advertisements and paid promotional content to generate revenues.