Paytm is one application which is available in almost everyone's smartphone nowadays. It is one of India's biggest companies, but most of us don't know the real struggle and effort put into it 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.
Vijay Shekhar Sharma was born into a middle-class family in Aligarh. He was a very bright student because his father was a schoolteacher and had some high values when it came to education.
He completed his schooling at 14 from a Hindi medium school; therefore, it took a lot of work for him to write and read English. Soon, he realised that to get admission to a good college, it is essential to know Basic English.
He didn't look at this as his weakness but took it as a challenge and began learning 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 a second book for its translation.
When he got admission to an engineering college in Delhi, this bright student started turning into an average student, and his grades began declining.
He completely stopped going to college after a few months of admission. Soon, he started losing interest in engineering and developed an interest in entrepreneurship.
Yahoo hugely inspired him, so he wanted to study at Stanford University, where it was built, but due to lack of money and his bad English stopped him from getting in there.
When most college students dreamed of their placements, Vijay and his friends created a CMS (content management company) named XS Communications. Many major publications like The Indian Express used their CMS.
While trying to get funds for his company, he borrowed Rs. 8 lakhs from the bank with an interest of 24 per cent. Due to this, he was trapped in the vicious circle of unpayable debt. This forced him to take odd jobs to pay off his debts.
His success was made possible because of his hard work, patience and will to succeed. Things were complicated when he launched One97, Paytm's parent company, but later things began to settle. For Paytm, he didn't ask for any funds; instead, he raised $2 million all by himself.
A company's success comes from offering internet wallets and 24/7 customer care services. All this develops trust among its customers. The idea of Paytm required the trust of their customers, and Vijay won it with excellent customer support.
Vijay Shekhar Sharma's story exemplifies that determination and passion can lead to achieving anything. Life presents opportunities, and seizing these chances requires following your passion and embracing risks.
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