Paytm Founder Vijay Shekhar Sharma youngest Indian Billionaire
New Delhi: The very founder of Paytm, Vijay Shekhar Sharma, found the place as the youngest Indian billionaire in the Forbes list of billionaires. He is the sole Indian billionaire under 40 who found space in the list with 1,394th rank while as Samprada Singh ( the founder and current chairman of Alkem Laboratories ) is the oldest Indian billionaire.
The 39-year-old Uttar Pradesh born entrepreneur back in 2010 launched Paytm ( Payment Through Mobile ) with the aim to allow Indian cellular customers avail online DTH and mobile recharge services. However, in 2014, Paytm started to sell consumer goods including electronics, fashion, home appliances, sports and fitness goods, etc to Indian online shoppers.
Paytm is one of the few Indian companies that derived massive advantage from Prime Minister Narendra Modi’s demonetization move which was announced on 8 November 2016 in an effort to curb black money in the Indian economy. The company since then claims to have registered more than 160 million new users. D
emonetization 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.