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Paytm-success-story- Bio, facts, Net worth, Owner Information, Income, How they start-up, Rating, Reviews, Investments, Digital Payment., Logo, Tagl
The worldwide financial technology business Paytm is founded in Noida, India, and specializes in digital payments and financial services. Vijay Shekhar Sharma launched One97 Communications when it was first established in 2010. With its Android-based point-of-sale machines, Payment Sound box, online payment gateway, and QR code services, the company allows merchants to accept payments from customers via mobile devices.
Payments services including microloans and buy now, pay later are provided to Paytm's merchants and customers through partnerships with financial institutions. The business offers ticket services, retail brokerage goods, and online games in addition to bill payment and money transfer.
Some highlights of his life:
- Birth: In a poor family's tiny village in Aligarh city, on July 8, 1973, Vijay Shekhar was born. He had three siblings, a homemaker for his mother, and a modest school teacher for a father.
- Qualification: From Delhi College of Engineering (now known as Delhi Technological University), he received a B.Tech degree.
- Marriage Life: He is married to Mridula Parashar Sharma, and the two of them have a kid.
About his successful life:
To launch Paytm, its founder, Vijay Shekhar Sharma, invested US$2 million at first in Noida, Delhi NCR, in August 2010. In 2013, it added debit card, postpaid cell, and landline bill payments to its initial offerings of prepaid mobile and DTH recharge.
Sapphire Ventures contributed $10 million to One97 Communications Ltd. in October 2011. Uber and Indian Railways both adopted the Paytm Wallet as a payment option after the company's January 2014 launch.
It began offering bus tickets and online promotions as part of its e-commerce debut. Education fees, metro recharges, and the purchase of gas, electricity, and water bills were added in 2015. From 1.18 crore in August 2014 to 10.4 crore in August 2015, Paytm had 10.4 crore registered users. With 20 lakh tickets bought each month, the travel industry has an annualized GMV run rate of almost $500 million.
Chinese e-commerce giant Alibaba Group acquired a substantial position in Paytm in March 2015, following the acquisition of 40% of the company's shares by Ant Financial Services Group, an affiliate of Alibaba Group, as part of a strategic partnership. Ratan Tata, the MD of Tata Sons, backed it shortly after.
At a valuation of more than $5 billion, Paytm secured money in August 2016 from Taiwan-based MediaTek's investment fund, Mountain Capital. Additionally, in 2016, it introduced Paytm QR and movie, event, and theme park ticketing. It introduced gift certificates and rail reservations later that year.
With the largest investment round ever made by a single investor, SoftBank, in May 2017, Paytm's worth increased to an estimated $10 billion. Although Berkshire Hathaway stated that Warren Buffett was not involved in the acquisition, the company invested $356 million in a 3%–4% investment in Paytm in August 2018.
It became the first payment app in India to be downloaded over 10 crore times in 2017. In the same year, it introduced Paytm Gold, a service that lets customers purchase pure gold online for as little as ₹1. Additionally, it introduced "Inbox," a messaging app that allows for in-chat payments, and Paytm Payments Bank.
By 2018, it began enabling businesses to take credit card, Paytm, and UPI payments straight into their bank accounts at no cost. Additionally, it introduced the "Paytm for Business" app, which is now known as the "Business with Paytm App" and lets retailers monitor daily settlements and payments.
By March 2018, its merchant base is expected to increase to over 70 lakhs. For long-term Investments, it introduced the Paytm Gold investments Plan and Gold Gifting, two new wealth management offerings
To introduce Gamepind, a mobile gaming platform, it formed a joint venture with AGTech Holdings, a gaming company owned by Alibaba Group, in January 2018. In June 2019, it changed its name to Paytm First Games. Paytm Money was founded in March 2018 with a ₹9 crore investment for wealth management and investments.
In March 2019, the firm launched its subscription-based loyalty program, Paytm First. It partnered with Citibank to launch the Paytm First credit card in May 2019.
On November 25, 2019, Paytm raised $1 billion in a funding round led by US asset manager T Rowe Price, which included existing investors Ant Financial and SoftBank Vision Fund. In July 2020, Tata Starbucks and Paytm collaborated to allow customers to order meals online during the COVID-19 pandemic.
One97 Communications began the process of going public in July 2021 by sending a draft red herring prospectus to the Securities and Exchange Board of India.
Its maiden public offering (IPO), which aimed to raise ₹18,300 crore (US$2.3 billion) at a US$20 billion valuation, started in November 2021. The largest IPO ever held in India was this one.
On November 18, 2021, when they began trading at ₹1,950 on the NSE, 9.3% below the upper limit of the IPO price range, the stock suffered the biggest single-day fall in Indian IPO history.
By the time the liquidation was valued at £1,560, the share price had fallen by more than 27%. Paytm launched Paytm Wealth Academy in December of 2021.
Plustxt was acquired by Paytm in 2013 for almost $2 million. Plustxt, which facilitates rapid text chats in any Indian language was founded by computer science grads Pratyush Prasanna, Parag Arora, Lokesh Chauhan, and Lohit V.
Paytm contributed $5 million to Jugnoo in 2015; the latter is an auto-rickshaw aggregator and hyperlocal delivery service. Additionally, it purchased local services firm Near.in and Shifu, a consumer behavior prediction tool based in Delhi.
It made investments in the logistics start-ups XpressBees and LogiNext in 2016.
Paytm invested in the healthcare startup QorQL in April 2017. QorQL combines big data and artificial intelligence (AI) to support medical care.
In July 2017, with support from mobile loyalty startup MobiQuest and event management business Only Much Louder (OML), it purchased the bulk of the shares in Insider.in, A digital ticketing and events platform. In 2017, it also purchased Little and nearbuy.com. A hyperlocal eCommerce startup situated in India.
In December 2017, Paytm provided further funding for the nearbuy.com and Little App merger. According to the terms of the agreement, Paytm would obtain majority ownership of the combined company, which would be led by co-founder and CEO Ankur Warikoo.
In January 2018, the business purchased Cube26, a startup, and in 2019, NightStay, a platform for booking hotels.
A resolution that would distribute 47,042 equity shares to 60 employees under the Paytm Board’s ESOP Scheme 2008 and ESOP Scheme 2019 have been adopted.
Paytm purchased the digital lending startup CreditMate in October 2021.
Paytm’s Vision: To provide innovative financial solutions to millions of Indians, drive digital inclusion, and alter the way people transact and engage with money.
Through its financial services, Paytm’s objective is to bring 500 million unserved and underprivileged Indians into the mainstream economy.
The Paytm logo is designed in two hues of blue: navy blue and sky blue, the trademark color, with the brand name printed as ‘Paytm.’ Paytm’s logo is simple but memorable, which leads to brand awareness.
