00:00 The time and situation of Paytm has changed.
00:05 Customers and merchants of the company recognized by the tagline of Paytm Kuro are now thinking
00:10 whether to paytm or not.
00:12 RBI has issued orders to ban all services including accounts and wallet services of PPBL from February 29, 2024.
00:21 However, the deadline was increased later and it has been extended to March 15, 2024.
00:27 After this, the company has been clarified that it will continue and there will be no retrenchment.
00:34 Paytm is surrounded by difficulties and today we are going to tell you how Paytm started
00:40 and how it became the common boy of UP's Aligarh and became the owner of the biggest FinTech startup company in the country.
00:46 Let's know what is their net worth today.
00:49 Paytm started with Vijay Shekhar Sharma who comes from a small town in Aligarh, UP.
00:54 His father was a school teacher. He studied in Hindi medium school.
00:58 He had a little difficulty in English, due to which he had to suffer a lot in studies.
01:04 But Vijay Shekhar Sharma got his college degree from Delhi College of Engineering with his hard work.
01:11 During his engineering studies, he made a good impression on English as well.
01:16 He created an Indian site.net website in his college tenure and later sold it for $1 million.
01:23 After that, he started the content management company XS.
01:27 But he sold this to the American company Lotus Interwork for lakhs of rupees.
01:32 He had to work in the same company later.
01:35 And then in 2000, 197 Communication started, which was a platform on which the life scores of jokes, exam results and cricket matches were shown.
01:46 Paytm Payments Bank, Paytm Payments Gateway, Paytm Payout, Paytm Money, Paytm Insider, Paytm Insurance, Paytm Postpaid, Paytm for Business, Paytm Credit Cards and Paytm First Games are the subsidiaries of this company.
02:00 To start with, Vijay Shekhar Sharma took a loan of Rs. 8 lakh at a very high interest rate.
02:06 While paying off the loan, suddenly there was a turning point in his life and in 2010 he launched Paytm under 197 Communication.
02:16 Which became so popular that in 7 years, Vijay Shekhar Sharma's Paytm app became India's first mobile app with online payments.
02:25 Which got 100 million downloads and in the next year, its downloads reached 200 million.
02:31 After the demonetization of 2016, as the country started moving forward on the path of a cashless economy, the demand for Paytm kept increasing.
02:39 In 2018, Paytm also received funding of $300 million from Warren Buffet's Berkshire Hathaway.
02:46 After this, Vijay Shekhar Sharma became the youngest billionaire at the age of 40 and in 2021, Paytm launched the country's largest IPO.
02:55 According to reports, by January 2024, Vijay Shekhar Sharma's estimated net worth was 1.1 billion.
03:02 Paytm's founder Vijay Shekhar Sharma has a salary of Rs. 4 crore and his luxurious bungalow is spread over 6000 sq. ft.
03:09 His bungalow in Delhi is made with a cost of Rs. 82 crore.
03:13 Now we will see how Vijay Shekhar Sharma, who came out of UP's Aligarh and brought a digital revolution all over the world, will get Paytm out of this problem.
03:22 And what will happen next? Because the company's shares were also continuously falling, the company's market cap has also come down a lot.
03:31 Vijay Shekhar Sharma, who started Paytm, is continuously giving assurance to his employees, customers, merchants that everything will be fine very soon.
03:40 So this was the story of Vijay Shekhar Sharma, who launched India's largest digital payment app.
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03:54 [BLANK_AUDIO]
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