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The CEO Magazine
A monthly magazine for business leaders and decision makers

Vijay Shekhar Sharma Success Story

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Vijay Shekhar Sharma Success Story

Pulkit Sharma || The CEO Magazine

Paytm is one application which is available is almost everyone’s smartphone now-a-days. It is one of the biggest companies in India but most of us don’t know the real struggle and efforts putted by Vijay Shekhar Sharma who founded Paytm. He had begun with Rs. 10 in his pocket and now he is the owner and CEO of a $3 billion company.

Early Life

Vijay Shekhar Sharma was born in a middle class family in Aligarh. He was a very bright student because his father was a school teacher and has some high values when it comes to education. He completed his schooling at a young age of 14 from a Hindi medium school therefore it was difficult for him to write and read English. Soon he realizes that to get admission in a good college it is important to know Basic English.

He didn’t look at this as his weakness but he took it as a challenge and begun to learn English by reading old magazines and borrowing books from his friends. He used to take two books at a time, one book of English sentences and second book for its translation. When he got admission in an engineering college in Delhi this bright student start turning into average student and soon his grades began to decline. He completely stopped going to college after few months of admission. Soon he started losing interest in engineering and developed an interest in entrepreneurship.

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 Passion for Entrepreneurship

He was hugely inspired by Yahoo so he wanted to study at Stanford University where it was built, but due to lack of money and his bad English stopped him for getting in there. When most of the college students were dreaming of their placements, Vijay along with his friends created a CMS (content management company) and they named it XS Communications. Their CMS was used by many major publications like The Indian Express.

While trying to get funds for his company he borrowed Rs. 8 lakhs from bank with an interest of 24 percent. Due to this he was trapped in the vicious circle of unplayable debt. This forced him to take odd jobs to pay off his debts.

The success of Paytm

His success was made possible because of his hard work, patience and will to succeed. Things were hard when he launched One97 which is the parent company of Paytm but later things begin to settle. For Paytm he didn’t ask for any fund instead he raises $2 million all by himself.

True success of company comes when they start offering internet wallet service, 24 x 7 customer care services and all this developed trust among their customers. The idea of Paytm required trust of their customers and Vijay won it with excellent customer support.

Story of Vijay Shekhar Sharma proves that you can achieve anything if you are determined and follow your passion. Life will give you opportunities; it is on you how you take this opportunity. Always follow your passion and take risks in life.

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