In five years, Vijay Shekhar Sharma has turned Paytm into a billion dollar enterprise. Though Paytm was started in 2010, the Aligarh-born Sharma has been an entrepreneur for much longer. While still in college, he created a search engine firm and sold it off. A decade back, he set upOne97 Communications as a ‘white pages’ of sorts on the net.
Further, it provided VAS services to mobile phone operators.
However, the venture soon flamed out and Paytm was formed to focus on mobile and DTH recharges. Four months back, Paytm’s mobile wallet crossed the 100 million user mark. Since 2014, the company has been in transition again. It now wants to be a an e-commerce company that would challenge the dominance of Flipkart, Amazon and Snapdeal. The move has been validated by Paytm investors, Jack Ma of Chinese e-commerce giant Alibaba and Tata Sons’ chairman emeritus Ratan Tata.