New Delhi: The Paytm & One97 founder Vijay Shekhar Sharma has made it to the Forbes list of billionaires.
The founder of One97 and Paytm who is named Vijay Shekhar Sharma has found the place as the youngest Indian billionaire in the Forbes list of billionaires. He is the only Indian billionaire under 40 who succeeded in finding space in the prestigious list with 1394 rank. Samprada Singh, founder and current chairman of Alkem Laboratories, has made it to the list as the oldest Indian billionaire.
Vijay Shekhar Sharma, youngest Indian icon, and millions of Indians must be very happy after finding his name on the list of Forbes billionaires. His contribution to the development of the Indian eCommerce industry has been noteworthy ever since he laid the foundation of Paytm. Keeping always a smile on his face, Vijay has been honored with many awards before the current achievement.
The 39-year-old Uttar Pradesh born entrepreneur had launched Paytm ( Pay Through Mobile ) back in the 2010 year. His aim backing the launch of Paytm was to allow Indian cellular subscribers to avail online DTH and mobile recharge services. It was later on in 2014 when Paytm tapped the consumer goods market. Since then the company has been selling electronics, fashion, home appliances, sports, and fitness goods to Indian online shoppers.
Paytm is one of the few Indian companies that derived massive advantage from Prime Minster’s demonetization move which was announced on the 8th of November 2016 in an effort to curb black money in the Indian economy. The company since that time claims to have registered more than 160 million new users.
Demonetization not only helped Paytm to grow its user base but it also witnessed an increase in daily transactions and app downloads. The move proved a turning point for the company as it boosted its popularity throughout India. During that time, Paytm even got the bad name during that time by the opposition political party. It was called Pay to Modi instead of Pay Through Mobile.