Here is the inspiring story Vijay Shekhar Sharma, the man behind Paytm; know about his net worth, salary and more.
Online transactions became a solution at a time when the country was adjusting to the problems brought on by demonetization, such as the appearance of long lines of people outside banks and ATMs. The government used this opportunity to promote digital bonding. Paytm became an option for everyone as a result. Here is the rags-to-riches tale of Vijay Shekhar Sharma, the man behind Paytm.
Who is Vijay Shekhar Sharma?
Vijay Shekhar Sharma, who was born in Aligarh in 1978, is the third of Sulom Prakash and Asha Sharma's 4 kids. His parents quickly discovered that their son was a genius. Vijay Shekhar Sharma enrolled in Delhi Technological University when he was just 15 years old.
While working towards his B.Tech in 1997, Vijay Shekhar Sharma turned the decision to start a dot-com company and created the website indiasite.net. He received Rs 5 lakhs for it. Vijay Shekhar Sharma founded One97 Communications, a website that provided information, cricket ratings, ringtones, jokes, and test scores, after quickly realising the endless possibilities of internet-based material.
Furthermore, he ran out of money in 2003 when he founded One97 Communications with a few friends' assistance. Despite this, he chose to work a job in order to support both himself and his business. He was able to make Rs. 10,000 monthly. One of his friends agreed to purchase 40% of One97 for Rs 8 lakhs in 2004. By 2007, Vijay Shekhar Sharma was encouraged to push for greater spending as a result, and by 2008, earnings reached in crores.
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Beginning of Paytm
He realised in 2010 that the landscape of Indian IT-based businesses would be significantly impacted by the country's recently launched 3G network. He saw a chance and put a lot of effort into developing Paytm. Within 10 months of launch, they were able to set up 15 million wallets on the app thanks to its immediate popularity with India's newly digital section of society.
Paytm saw a massive 700% increase in transactions as a result of demonetization, which was a big win for the online payment system. Due to this, Paytm was able to quickly reach a $10 billion valuation.
Vijay Shekhar Sharma: Net worth and salary
According to Forbes, Vijay Shekhar Sharma's estimated net worth in 2022 will be $1.2 billion (or Rs 98,12,95,20,000). Vijay Shekhar Sharma receives a yearly salary of Rs. 4 crore in cash. His salary will not change for the ensuing three years.
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