8/23/2023 0 Comments Who owns paytmSuch a high interest rate got Vijay into a cycle of debts, forcing him to take other jobs such as fixing LAN connections, delivering guest lectures, etc. ![]() Initially, he borrowed a loan of rupees 8 Lakhs at a principal rate of 24%, which was a huge sum considering that we are talking about late 2000s. Though it is very successful today, Vijay Shekhar Sharma had a hard time setting it up. In case you are not aware, One97 Communications is the parent company of Paytm. Reportedly, one of his CMS was also used by journalism giant The Indian Express. While other students were busy appearing for interviews and GD rounds of companies that thronged the campus, Vijay was ready with his own small-scale start up named XS Communications that made content management systems (CMS). By the time he graduated from Delhi College of Engineering, he was an expert self-taught coder. Whilst in college, Vijay Shekhar Sharma used to spend a lot of time in the computer lab, reading about and imagining himself in the Silicon Valley. During his college days, he used to read his books in two languages, first in Hindi and then in English to develop a better understandin g and command over the subject and the language. However, because of his poor English speaking and reading skills, he missed out on a lot of opportunities. Vijay Shekhar Sharma was an extraordinary student – h e passed the 12 th standard at a mere age of 14. In this post, we will take a detailed look at the journey of Paytm founder Vijay Shekhar Sharma & the case study and marketing strategies of Payt m. Interestingly, many modern-day entrepreneurs idolize him and try to walk in his footsteps. The journey of Paytm founder, Vijay Shekhar Sharma, is an inspirational one. For more than over a decade, the platform has been enjoying a strong presence in the mobile wallet and UPI services category in the country, despite intense competition from rivals Google Pay, PhonePe and Amazon Pay. This move gave a big boost to PayTM which gained tremendously from demonetization and spurted to growth.Payt m Case Study and Marketing Strategy – The concept of mobile phone wallets was mostly unheard of when Payt m – an acronym for Pay Through Mobile – made its debut in 2010. While demonetization slashed away the cash worth billions of dollars within a very short period of time, a huge segment of the population turned towards digital payments. This measure intended to crack down the black money market, illegal money laundering and terrorist funding, had also struck a severe blow on a large number of businesses. In November 2016, the Indian government announced one of the biggest ever demonetization moves on the earth in which the high-value currency notes were withdrawn. His business benefited from demonetization This happened despite his company PayTM was reported to suffer a loss of Rs 3,393 crore. Hence he was ranked at the 877th position among the 2,153 global billionaires. In 2018, Vijay’s net worth rose to $2.6 billion, which was close to Rs 18,000 crore. Vijay’s wealth shot up even when PayTM suffered losses This position made him the youngest billionaire of India. His fortune turned gradually upwards and he could occupy the 1567th rank in the World’s Billionaire’s List by Forbes. Hence he took up some petty jobs like delivering guest lectures and setting up LAN connections in order to see that both the ends met. Soon he realized the repayment was getting tougher. He had to take a loan of 8 lakhs to fund his startup. In 2001 Vijay started One97, the parent company of PayTM. In 1997 when he was doing his college studies, he started a website and later sold it for $1 million two years later. He graduated as an engineer when he was just 19 years. ![]() Vijay began his college life as early as 15 years of age. In 2006, PayTM was identified as the “Most Innovative Start-up of the Year”. In a celebration, PayTM was also recognized among Delhi’s top 50 brands. In 2015, Vijay Shekar was credited with the most coveted ‘India’s Innovative CEO Award’. The favourable climate around him paved way for his quick success. He took inspiration from this shift and launched PayTM that expands as Pay Through Mobile. When the internet industry was turning intricate, Vijay Shekar perceived a paradigm shift in the process of billing from paying bills at physical outlets to online payment. ![]() How Sharma rose to success was by taking the wind’s direction to his advantage. Here are a few interesting facts about him that can move the readers to admire this amazing personality. The son of a simple school teacher, how Vijay Shekar Sharma built his success story is highly interesting and inspiring. In June 2019, the company is credited with a net worth of $2.7 billion. When Forbes named Vijay Shekar Sharma as the youngest billionaire of India in 2017, the net worth of his company PayTM was $2.1 billion.
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