Vijay Shekhar Sharma, an Indian billionaire and founder of One97 communication and Paytm. He is also ranked as an India’s youngest billionaire in the year 2017 by Forbes with a net worth of $1.3 billion.
Early life stage
Mr. Vijay Shekhar Sharma was born in Aligarh, Uttar Pradesh on 8th July 1978, He cites the founder of Alibaba Group Jack Ma and Masayoshi Son of Softbank as his inspiration.
Vijay Shekhar Sharma was an exceptional student in his school; He passed his secondary school when he was 14. However, this was just the beginning of a long journey to success for the young Sharma.
Lack of English Proficiency
Vijay Shekhar Sharma, always owing to his poor English proficiency, He couldn’t sit for IIT entrance and other competitive exams as well. Later in college, somehow he found the way to get over this poor language proficiency and he simultaneously read two books – one in Hindi, the other in English to understand the course material.
Topper to Back-Bencher
Vijay Shekhar Sharma passed out of Delhi College Of Engineering at his early age at 19. His lack of English proficiency meant he failed to understand what was taught in class. This brings his interest to spend a lot of his time in the computer room, browsing the internet and dreaming about being in Silicon Valley, the mecca for worldwide innovation.
Vijay Shekhar Sharma, the youngest and bright engineering graduates were excited about the prospect of being placed, but his first company –‘XS Communications’, a college-based startup that created Content Management Systems. By then, Vijay Shekhar had learned to code all by himself and had designed a Content Management that was being used by several major publications including the Indian Express.
Lack of Fund
Vijay Shekhar Sharma, while trying to set up One97, once ended up with a loan of 8 lacs. A huge amount for a middle-class family person back in the year 2000, But he had taken the principal amount at 24% interest, which got him into a vicious cycle of unpayable debt. This success forced Vijay Shekhar Sharma to take up petty jobs to make ends meet, setting up LAN connections, delivering guest lectures and so on.
Paytm – A Big Bet
After introducing One97, Vijay Shekhar Sharma introduces Paytm with the idea of a mobile-first consumer service that would cater to the masses. He put $2Mn at stake to launch the final brand and that entire amount was on the risk he took personally.
The rest, as they say, is history which is keep upgrading from time to time whenever Vijay Shekhar Sharma introduces new services.
Paytm is the biggest taken risk till present. Vijay Shekhar Sharma’s’ net worth is the US $1.7 billion on July 2018