New Delhi: The Paytm & One97 founder Vijay Shekhar Sharma has made it to the Forbes list of billionaires.
Vijay Shekhar Sharma, the founder of One97 and Paytm, is the youngest Indian billionaire on the Forbes list of billionaires for the first time. Sharma is also the founder of Paytm.
With a ranking of 1394 on the prestigious list, he is the only Indian billionaire under the age of 40 to make the list. In addition to being the founder of Alkem Laboratories and serving as the company’s current chairman, Samprada Singh is recognised as being the oldest billionaire in India.
Given that Vijay Shekhar Sharma is the youngest Indian celebrity, he and millions of other people in India must be pleased to see his name on the list of billionaires published by Forbes. Since he created Paytm, an Indian digital platform for online shopping, he has made a significant contribution to the expansion of the Indian eCommerce business. Paytm is an Indian digital platform for online shopping.
Vijay has a long history of success, and each time he has been recognised for his achievements, he has done it with a beaming smile on his face. Paytm (Pay Through Mobile) was established in 2010 by a businessperson with the age of 39 who hails from the Indian state of Uttar Pradesh.
When he first conceived of the idea for Paytm, he wanted to ensure that Indian mobile phone consumers would have access to convenient online DTH and mobile recharge services. Paytm entered the market for consumer goods somewhat later in the year 2014. Since that time, the company has been catering to the needs of Indian customers shopping online by providing products in the following categories: electronics, fashion, home appliances, and sports & fitness.
Paytm is one of the few companies in India that saw a significant increase in revenue as a direct result of the decision made by the Prime Minister to demonetize cash on November 8, 2016, in an effort to halt the flow of illegal money through the Indian economy.
During that time period, the firm reported that it had successfully recruited over 160 million new users. Paytm saw an increase in the number of users, as well as in the number of app downloads and daily transactions, as a direct result of demonetization.
The decision by the government of India to do away with paper currency was a game-changer for the company, as a result of which it gained more customers all throughout India. During that time period, Paytm was also forced to contend with negative news from political organisations such as Congress and RJD that were opposed to it. Pay to Modi was the name of the service, which replaced Pay Through Mobile.