New Delhi: The Paytm & One97 founder Vijay Shekhar Sharma has made it to the Forbes list of billionaires.
The founder of One97 namely Vijay Shekhar Sharma is the youngest Indian billionaire who’s created a history by making it to the list of billionaires for the first time. He is also the person who has laid the foundation of Paytm as a platform which would enable people reacharge online and thereby ended the long waits in ques for the people.
Vijay is the only Indian billionaire under the age of 40 who’s made to the prestigious list with a ranking of 1394 in the list. In addition to Vijay Shekar Sharma, Samprada Sharma is yet another name from Indian soil who has found a place in the Forbes list. He is popular for being the founder of Alkem Laboratories and serves as the current chairman of the company. He is also recognised as one of the oldest Indian billionaire.
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 significantly contributed to the expansion of the Indian eCommerce business. Paytm is an Indian digital platform for online shopping.
Vijay has a long history of success; each time he has been recognised for his achievements, he has done it with a beaming smile. 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 the idea for Paytm, he wanted to ensure Indian mobile phone consumers could access 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, to halt the flow of illegal money through the Indian economy.
During that period, the firm reported successfully recruiting 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, resulting in more customers throughout India. During that 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.